Acadian Asset Management LLC Lowers Stock Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Acadian Asset Management LLC lowered its position in shares of Bausch Health Companies Inc. (NYSE:BHC) by 56.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 51,800 shares of the company’s stock after selling 66,197 shares during the period. Acadian Asset Management LLC’s holdings in Bausch Health Companies were worth $361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. bought a new position in Bausch Health Companies in the 4th quarter valued at $31,000. Salem Investment Counselors Inc. bought a new stake in Bausch Health Companies during the first quarter valued at $32,000. Bfsg LLC grew its position in Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after buying an additional 3,643 shares in the last quarter. Tobam grew its position in Bausch Health Companies by 48.9% during the second quarter. Tobam now owns 26,148 shares of the company’s stock worth $182,000 after buying an additional 8,586 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in Bausch Health Companies in the 4th quarter worth about $195,000. Institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Stock Up 2.1 %

NYSE BHC opened at $8.19 on Friday. The company has a 50-day simple moving average of $6.25 and a two-hundred day simple moving average of $7.35. Bausch Health Companies Inc. has a 12-month low of $3.96 and a 12-month high of $11.46. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -6.60 and a beta of 0.75.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.09. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. During the same period in the prior year, the business posted $0.81 EPS. Equities analysts expect that Bausch Health Companies Inc. will post 3.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. 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 report on Wednesday, August 7th. Scotiabank cut their price target on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Truist Financial lowered their price objective on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Royal Bank of Canada cut their target price on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and cut their price objective for the stock 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 given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.33.

Insider Activity

In related news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction 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 transaction, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at $2,702,579.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.12% of the company’s stock.

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.