Geode Capital Management LLC Buys 108,269 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Geode Capital Management LLC increased its stake in shares of Bausch Health Companies Inc. (NYSE:BHC) by 20.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 636,082 shares of the company’s stock after purchasing an additional 108,269 shares during the period. Geode Capital Management LLC owned 0.17% of Bausch Health Companies worth $6,448,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp increased its holdings in shares of Bausch Health Companies by 111.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after buying an additional 1,252,834 shares during the last quarter. LMR Partners LLP bought a new position in Bausch Health Companies in the third quarter valued at $3,264,000. Clearline Capital LP bought a new position in Bausch Health Companies in the second quarter valued at $6,881,000. Intact Investment Management Inc. purchased a new stake in Bausch Health Companies during the third quarter valued at about $1,543,000. Finally, XTX Topco Ltd bought a new stake in Bausch Health Companies during the third quarter worth about $938,000. Institutional investors own 78.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BHC shares. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price objective on shares of Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.75.

Bausch Health Companies Price Performance

BHC stock opened at $7.80 on Friday. The stock has a market capitalization of $2.82 billion, a P/E ratio of -16.25 and a beta of 0.69. Bausch Health Companies Inc. has a 1-year low of $3.96 and a 1-year high of $11.46. The business has a fifty day moving average price of $8.23 and a 200-day moving average price of $7.38.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, analysts anticipate that Bausch Health Companies Inc. will post 3.74 earnings per share for the current year.

Bausch Health Companies Company Profile

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.