Maple Rock Capital Partners Inc. Takes Position in Bausch Health Companies Inc. (NYSE:BHC)

Maple Rock Capital Partners Inc. purchased a new position in Bausch Health Companies Inc. (NYSE:BHC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,064,900 shares of the company’s stock, valued at approximately $16,850,000. Bausch Health Companies comprises approximately 0.5% of Maple Rock Capital Partners Inc.’s holdings, making the stock its 24th biggest position. Maple Rock Capital Partners Inc. owned about 0.56% of Bausch Health Companies as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its position in shares of Bausch Health Companies by 111.0% during the second 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. LMR Partners LLP purchased a new position in Bausch Health Companies during the 3rd quarter valued at $3,264,000. Clearline Capital LP bought a new position in Bausch Health Companies in the 2nd quarter valued at $6,881,000. Intact Investment Management Inc. purchased a new stake in Bausch Health Companies in the third quarter worth $1,543,000. Finally, Maverick Capital Ltd. purchased a new stake in Bausch Health Companies in the second quarter worth $1,606,000. 78.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BHC has been the topic of a number of research analyst reports. StockNews.com upgraded shares of 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 report on Tuesday, October 15th. Jefferies Financial Group dropped their price objective on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada upped their target price 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. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Bausch Health Companies currently has an average rating of “Hold” and a consensus target price of $7.75.

Insider Buying and Selling at Bausch Health Companies

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 transaction of $83,027.70. Following the sale, the executive vice president now owns 435,198 shares in the company, valued at approximately $2,702,579.58. The trade was a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.12% of the stock is owned by insiders.

Bausch Health Companies Trading Up 3.5 %

Shares of NYSE BHC opened at $8.09 on Wednesday. The stock has a market capitalization of $2.91 billion, a PE ratio of -16.85 and a beta of 0.69. Bausch Health Companies Inc. has a 12-month low of $3.96 and a 12-month high of $11.46. The stock’s fifty day simple moving average is $8.41 and its two-hundred day simple moving average is $7.16.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.10. The company had revenue of $2.51 billion for 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%. The firm’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 earnings per share. On average, equities analysts predict that Bausch Health Companies Inc. will post 3.74 earnings per share for the current fiscal year.

Bausch Health Companies 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.