Bausch Health Companies Inc. (NYSE:BHC) Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its stake in shares of Bausch Health Companies Inc. (NYSE:BHC) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,188,348 shares of the company’s stock after selling 6,003 shares during the quarter. Royal Bank of Canada owned about 3.09% of Bausch Health Companies worth $90,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BHC. JPMorgan Chase & Co. boosted its stake in Bausch Health Companies by 1,246.0% during the 4th quarter. JPMorgan Chase & Co. now owns 19,840 shares of the company’s stock valued at $160,000 after purchasing an additional 18,366 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Bausch Health Companies by 62.0% in the fourth quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company’s stock worth $26,614,000 after buying an additional 1,263,706 shares during the period. Vanguard Group Inc. raised its holdings in shares of Bausch Health Companies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company’s stock worth $94,460,000 after acquiring an additional 145,078 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Bausch Health Companies during the fourth quarter worth $180,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Bausch Health Companies during the fourth quarter worth $228,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $8.00 price target (down previously from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price objective on Bausch Health Companies from $8.50 to $10.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Finally, StockNews.com downgraded Bausch Health Companies from a “buy” rating to a “hold” rating in a report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.42.

Bausch Health Companies Stock Performance

Shares of Bausch Health Companies stock opened at $4.64 on Tuesday. Bausch Health Companies Inc. has a 52 week low of $3.96 and a 52 week high of $9.85. The firm has a fifty day moving average of $5.50 and a two-hundred day moving average of $6.92. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -38.66, a PEG ratio of 0.37 and a beta of 0.34.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.44). Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 577.82%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. As a group, research analysts forecast that Bausch Health Companies Inc. will post 4.41 EPS for the current fiscal year.

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.