Magnetar Financial LLC Buys Shares of 18,693 Bausch Health Companies Inc. (NYSE:BHC)

Magnetar Financial LLC acquired a new position in Bausch Health Companies Inc. (NYSE:BHC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,693 shares of the company’s stock, valued at approximately $151,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Tobam boosted its position in shares of Bausch Health Companies by 10.4% during the fourth quarter. Tobam now owns 15,034 shares of the company’s stock worth $121,000 after buying an additional 1,422 shares during the period. Northwest & Ethical Investments L.P. boosted its stake in shares of Bausch Health Companies by 13.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 32,384 shares of the company’s stock valued at $264,000 after purchasing an additional 3,734 shares during the period. Sanders Morris Harris LLC increased its position in shares of Bausch Health Companies by 16.0% during the fourth quarter. Sanders Morris Harris LLC now owns 28,975 shares of the company’s stock worth $234,000 after acquiring an additional 4,000 shares during the period. Kendall Capital Management grew its stake in Bausch Health Companies by 43.4% during the 4th quarter. Kendall Capital Management now owns 17,995 shares of the company’s stock worth $145,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in Bausch Health Companies by 39.7% during the 4th quarter. Principal Securities Inc. now owns 19,220 shares of the company’s stock worth $155,000 after purchasing an additional 5,464 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Analysts Set New Price Targets

BHC has been the topic of a number of analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $8.00 price objective (down from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. Royal Bank of Canada cut their price target on Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.42.

Bausch Health Companies Price Performance

NYSE BHC opened at $7.17 on Monday. Bausch Health Companies Inc. has a 12 month low of $3.96 and a 12 month high of $11.46. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -59.70, a price-to-earnings-growth ratio of 0.37 and a beta of 0.59. The firm’s fifty day moving average price is $7.14 and its 200 day moving average price is $7.70.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.44). The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 577.82%. As a group, sell-side analysts forecast that Bausch Health Companies Inc. will post 4.41 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.