LPL Financial LLC acquired a new stake in Bausch Health Companies Inc (NYSE:BHC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,607 shares of the company’s stock, valued at approximately $555,000.
A number of other hedge funds have also made changes to their positions in the business. NEXT Financial Group Inc bought a new position in Bausch Health Companies in the third quarter valued at approximately $101,000. Steward Partners Investment Advisory LLC bought a new position in Bausch Health Companies in the third quarter valued at approximately $106,000. Polaris Greystone Financial Group LLC bought a new position in Bausch Health Companies in the third quarter valued at approximately $107,000. Quadrant Capital Group LLC bought a new position in Bausch Health Companies in the third quarter valued at approximately $118,000. Finally, Bedel Financial Consulting Inc. bought a new position in Bausch Health Companies in the third quarter valued at approximately $129,000. 50.09% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Christina Ackermann sold 19,946 shares of Bausch Health Companies stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $24.98, for a total transaction of $498,251.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Appio purchased 25,440 shares of Bausch Health Companies stock in a transaction dated Friday, December 14th. The shares were purchased at an average cost of $22.96 per share, for a total transaction of $584,102.40. The disclosure for this purchase can be found here. Company insiders own 11.54% of the company’s stock.
Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Bausch Health Companies had a negative net margin of 40.41% and a positive return on equity of 32.19%. Bausch Health Companies’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities analysts anticipate that Bausch Health Companies Inc will post 3.81 earnings per share for the current fiscal year.
BHC has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Bausch Health Companies in a research note on Tuesday, November 6th. Zacks Investment Research raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Wednesday, October 3rd. Mizuho reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Bausch Health Companies in a research note on Monday, October 8th. HC Wainwright raised shares of Bausch Health Companies from an “average” rating to a “buy” rating in a research note on Friday, December 14th. Finally, Morgan Stanley set a $32.00 price objective on shares of Bausch Health Companies and gave the company a “buy” rating in a research note on Monday, December 17th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $26.73.
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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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