Bausch Health Companies Inc. (NYSE:BHC) is Goldentree Asset Management LP’s Largest Position

Goldentree Asset Management LP lifted its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC) by 31.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,395,745 shares of the company’s stock after purchasing an additional 6,958,717 shares during the period. Bausch Health Companies comprises about 19.1% of Goldentree Asset Management LP’s investment portfolio, making the stock its biggest position. Goldentree Asset Management LP owned 7.99% of Bausch Health Companies worth $239,552,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BHC. Vanguard Group Inc. lifted its position in Bausch Health Companies by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,713,993 shares of the company’s stock valued at $124,285,000 after purchasing an additional 114,862 shares during the last quarter. Bank of Montreal Can raised its holdings in Bausch Health Companies by 234.0% during the 3rd quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock valued at $31,598,000 after buying an additional 2,685,675 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Bausch Health Companies by 12.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,165,512 shares of the company’s stock valued at $22,063,000 after buying an additional 341,936 shares during the last quarter. Mackenzie Financial Corp boosted its position in Bausch Health Companies by 111.0% during the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock valued at $16,612,000 after buying an additional 1,252,834 shares during the period. Finally, Private Management Group Inc. grew its holdings in Bausch Health Companies by 43.0% in the 2nd quarter. Private Management Group Inc. now owns 1,495,953 shares of the company’s stock worth $10,427,000 after acquiring an additional 449,623 shares during the last quarter. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Price Performance

Shares of Bausch Health Companies stock opened at $8.12 on Friday. The company has a 50-day moving average of $8.40 and a 200 day moving average of $7.13. Bausch Health Companies Inc. has a 1 year low of $3.96 and a 1 year high of $11.46. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -16.92 and a beta of 0.74.

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

Insider Activity at Bausch Health Companies

In other Bausch Health Companies 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 completion of the transaction, the executive vice president now owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. The trade was a 2.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price objective on Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Scotiabank reduced their target price on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group dropped their price target on 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. Finally, Piper Sandler cut shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and cut their price target for the company from $9.00 to $3.00 in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Bausch Health Companies currently has a consensus rating of “Hold” and an average target price of $7.75.

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.