Hsbc Holdings PLC Has $169,000 Stock Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Hsbc Holdings PLC reduced its stake in shares of Bausch Health Companies Inc. (NYSE:BHC) by 35.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,483 shares of the company’s stock after selling 13,170 shares during the quarter. Hsbc Holdings PLC’s holdings in Bausch Health Companies were worth $169,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Salem Investment Counselors Inc. acquired a new stake in Bausch Health Companies during the first quarter worth about $32,000. Headlands Technologies LLC acquired a new position in Bausch Health Companies during the second quarter valued at approximately $35,000. Certuity LLC bought a new stake in Bausch Health Companies during the second quarter worth $75,000. Bfsg LLC boosted its holdings in shares of Bausch Health Companies by 46.7% in the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after purchasing an additional 3,643 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Bausch Health Companies in the 2nd quarter valued at $109,000. Institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Stock Up 0.6 %

Shares of Bausch Health Companies stock opened at $8.32 on Friday. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -6.71 and a beta of 0.77. Bausch Health Companies Inc. has a twelve month low of $3.96 and a twelve month high of $11.46. The company’s fifty day moving average is $6.50 and its 200 day moving average is $7.25.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.89 by $0.09. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, equities analysts anticipate that Bausch Health Companies Inc. will post 3.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Seana Carson sold 13,370 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the transaction, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at $2,702,579.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.12% of the company’s stock.

Analysts Set New Price Targets

BHC has been the topic of a number of recent analyst reports. Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $9.00 to $3.00 in a research report on Friday, August 2nd. Jefferies Financial Group dropped their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. Scotiabank dropped their price target on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada cut their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.33.

About Bausch Health Companies

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.