Geode Capital Management LLC Increases Stock Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Geode Capital Management LLC boosted its stake in shares of Bausch Health Companies Inc. (NYSE:BHC) by 20.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 636,082 shares of the company’s stock after buying an additional 108,269 shares during the period. Geode Capital Management LLC’s holdings in Bausch Health Companies were worth $6,448,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BHC. Headlands Technologies LLC purchased a new position in shares of Bausch Health Companies during the second quarter valued at approximately $35,000. MQS Management LLC bought a new stake in shares of Bausch Health Companies during the 2nd quarter worth approximately $71,000. Certuity LLC purchased a new position in Bausch Health Companies during the 2nd quarter valued at $75,000. Kendall Capital Management purchased a new position in Bausch Health Companies during the 2nd quarter valued at $87,000. Finally, Brown Brothers Harriman & Co. bought a new position in Bausch Health Companies in the 2nd quarter valued at $109,000. 78.65% of the stock is currently owned by institutional investors.

Bausch Health Companies Stock Performance

Shares of BHC stock opened at $7.80 on Friday. Bausch Health Companies Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $11.46. The firm has a market capitalization of $2.82 billion, a PE ratio of -16.25 and a beta of 0.69. The stock’s 50-day simple moving average is $8.23 and its 200-day simple moving average is $7.38.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the company posted $1.03 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. Sell-side analysts forecast that Bausch Health Companies Inc. will post 3.74 earnings per share for the current year.

Wall Street Analyst Weigh In

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