Gabelli Funds LLC raised its stake in Bausch Health Companies Inc (NYSE:BHC) by 19.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,500 shares of the company’s stock after acquiring an additional 45,000 shares during the period. Gabelli Funds LLC owned 0.08% of Bausch Health Companies worth $6,923,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Investors Research Corp lifted its stake in shares of Bausch Health Companies by 85.7% in the 2nd quarter. Investors Research Corp now owns 1,300 shares of the company’s stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new stake in Bausch Health Companies in the first quarter valued at about $38,000. Providence Capital Advisors LLC bought a new stake in Bausch Health Companies in the first quarter valued at about $49,000. Asset Planning Services Ltd. bought a new stake in Bausch Health Companies in the second quarter valued at about $55,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in Bausch Health Companies in the second quarter valued at about $58,000. 56.06% of the stock is currently owned by institutional investors.
Shares of NYSE BHC opened at $23.24 on Friday. The company has a debt-to-equity ratio of 8.94, a quick ratio of 0.92 and a current ratio of 1.21. Bausch Health Companies Inc has a 52-week low of $17.20 and a 52-week high of $28.45. The company’s 50 day moving average price is $22.33 and its 200-day moving average price is $23.49. The company has a market capitalization of $8.18 billion, a P/E ratio of 5.78, a price-to-earnings-growth ratio of 0.27 and a beta of 0.80.
Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.03). The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Bausch Health Companies had a positive return on equity of 52.12% and a negative net margin of 10.88%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 EPS. Analysts forecast that Bausch Health Companies Inc will post 4.24 earnings per share for the current year.
Several brokerages have weighed in on BHC. Piper Jaffray Companies set a $29.00 price objective on shares of Bausch Health Companies and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Cantor Fitzgerald set a $32.00 price objective on shares of Bausch Health Companies and gave the company a “buy” rating in a report on Friday, May 31st. Guggenheim started coverage on shares of Bausch Health Companies in a report on Thursday. They issued a “buy” rating and a $30.00 price objective on the stock. HC Wainwright increased their target price on shares of Bausch Health Companies from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Wolfe Research began coverage on shares of Bausch Health Companies in a research report on Friday, July 19th. They set an “outperform” rating and a $31.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $29.68.
In related news, insider William D. Humphries bought 30,703 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were acquired at an average cost of $21.18 per share, with a total value of $650,289.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark C. Mckenna sold 10,773 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $21.83, for a total transaction of $235,174.59. Following the completion of the sale, the insider now directly owns 20,756 shares in the company, valued at $453,103.48. The disclosure for this sale can be found here. Insiders have sold 18,159 shares of company stock valued at $410,355 in the last quarter. Company insiders own 11.87% of the company’s stock.
Bausch Health Companies Company Profile
Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.
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