Pinnacle Associates Ltd. Sells 1,319 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Pinnacle Associates Ltd. trimmed its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC) by 4.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,500 shares of the company’s stock after selling 1,319 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Bausch Health Companies were worth $237,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on BHC. Jefferies Financial Group decreased their price objective on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial reduced their target price on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Raymond James began coverage on shares of Bausch Health Companies in a research note on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 price target on the stock. Royal Bank of Canada increased their price objective on shares of Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Piper Sandler downgraded Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $9.00 to $3.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.75.

Bausch Health Companies Stock Up 6.3 %

NYSE:BHC opened at $9.78 on Monday. Bausch Health Companies Inc. has a 12-month low of $3.96 and a 12-month high of $11.46. The stock’s 50 day moving average price is $7.55 and its two-hundred day moving average price is $7.06. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -20.37 and a beta of 0.74.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 earnings per share 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 net margin of 1.88% and a negative return on equity of 850.93%. The company’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. Equities research analysts expect that Bausch Health Companies Inc. will post 3.6 EPS for the current year.

Insider Activity at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies 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 directly owns 435,198 shares in the company, valued at approximately $2,702,579.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.12% of the stock is currently owned by corporate insiders.

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.