Quantbot Technologies LP Makes New Investment in Bausch Health Companies Inc. (NYSE:BHC)

Quantbot Technologies LP purchased a new stake in shares of Bausch Health Companies Inc. (NYSE:BHC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 101,543 shares of the company’s stock, valued at approximately $829,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Bausch Health Companies in the 2nd quarter valued at approximately $35,000. MQS Management LLC acquired a new position in Bausch Health Companies during the 2nd quarter worth $71,000. Certuity LLC bought a new position in shares of Bausch Health Companies in the second quarter worth $75,000. Bfsg LLC increased its holdings in shares of Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after purchasing an additional 3,643 shares during the period. Finally, Kendall Capital Management bought a new stake in shares of Bausch Health Companies during the second quarter valued at about $87,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Companies Price Performance

BHC stock opened at $8.37 on Monday. The firm has a market cap of $3.01 billion, a PE ratio of -17.44 and a beta of 0.74. Bausch Health Companies Inc. has a 12 month low of $3.96 and a 12 month high of $11.46. The firm has a 50 day simple moving average of $8.41 and a 200 day simple moving average of $7.14.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. As a group, sell-side analysts expect that Bausch Health Companies Inc. will post 3.74 earnings per share for the current year.

Insider Activity at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.21, for a total value of $83,027.70. Following the completion of the sale, the executive vice president now owns 435,198 shares in the company, valued at approximately $2,702,579.58. This represents a 2.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Evercore ISI raised Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group decreased 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.75.

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.