Cito Capital Group LLC bought a new stake in shares of Bausch Health Companies Inc (NYSE:BHC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,000 shares of the company’s stock, valued at approximately $334,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Tobam bought a new stake in Bausch Health Companies during the 2nd quarter valued at $13,886,000. Point View Wealth Management Inc. bought a new stake in Bausch Health Companies during the 2nd quarter valued at $1,132,000. Private Management Group Inc. bought a new stake in Bausch Health Companies during the 2nd quarter valued at $28,474,000. Van ECK Associates Corp bought a new stake in Bausch Health Companies during the 2nd quarter valued at $11,494,000. Finally, Marshall Wace LLP bought a new stake in Bausch Health Companies during the 2nd quarter valued at $2,974,000. 50.09% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Christina Ackermann sold 19,946 shares of the business’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $24.98, for a total value of $498,251.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Schutter Richard U. De acquired 125,000 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was purchased at an average cost of $23.96 per share, for a total transaction of $2,995,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 165,000 shares of company stock worth $3,890,700 in the last three months. Company insiders own 11.54% of the company’s stock.
Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.31. Bausch Health Companies had a positive return on equity of 32.19% and a negative net margin of 40.41%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, research analysts forecast that Bausch Health Companies Inc will post 3.81 EPS for the current year.
Several analysts have weighed in on BHC shares. ValuEngine downgraded Bausch Health Companies from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Royal Bank of Canada set a $30.00 target price on Bausch Health Companies and gave the company a “hold” rating in a research note on Monday, October 8th. Piper Jaffray Companies set a $16.00 target price on Bausch Health Companies and gave the company a “sell” rating in a research note on Tuesday, August 7th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $32.00 target price on shares of Bausch Health Companies in a research note on Wednesday, September 12th. Finally, JPMorgan Chase & Co. lifted their target price on Bausch Health Companies to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, August 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.18.
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Bausch Health Companies Company Profile
Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. It offers dermatology products that treat a range of conditions, including actinic keratosis, acne, atopic dermatitis, psoriasis, cold sores, athlete's foot, nail fungus, and other dermatoses, as well as provides aesthetic medical devices, which address various conditions, including facial wrinkles, acne, pigmentation conditions, body sculpting, skin tightening, and laser hair removal.
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