Parallel Advisors LLC acquired a new position in shares of Bausch Health Companies Inc (NYSE:BHC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,125 shares of the company’s stock, valued at approximately $234,000.
Other large investors have also recently modified their holdings of the company. NEXT Financial Group Inc bought a new stake in shares of Bausch Health Companies in the third quarter valued at approximately $101,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Bausch Health Companies in the third quarter valued at approximately $106,000. Polaris Greystone Financial Group LLC bought a new stake in shares of Bausch Health Companies in the third quarter valued at approximately $107,000. Quadrant Capital Group LLC bought a new stake in shares of Bausch Health Companies in the third quarter valued at approximately $118,000. Finally, Bedel Financial Consulting Inc. bought a new stake in shares of Bausch Health Companies in the third quarter valued at approximately $129,000. Institutional investors own 42.90% of the company’s stock.
BHC has been the subject of several recent research reports. ValuEngine cut Bausch Health Companies from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Royal Bank of Canada set a $30.00 price target on Bausch Health Companies and gave the company a “hold” rating in a research note on Monday, October 8th. Piper Jaffray Companies set a $16.00 price target on Bausch Health Companies and gave the company a “sell” rating in a research note on Tuesday, August 7th. Cantor Fitzgerald reiterated a “buy” rating and issued a $32.00 price target on shares of Bausch Health Companies in a research note on Wednesday, September 12th. Finally, JPMorgan Chase & Co. boosted their price target on Bausch Health Companies to $18.00 and gave the company an “underweight” rating in a research note on Wednesday, August 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $27.40.
Shares of BHC opened at $24.17 on Monday. Bausch Health Companies Inc has a one year low of $11.10 and a one year high of $28.45. The company has a market cap of $8.45 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 0.35 and a beta of -0.28. The company has a debt-to-equity ratio of 6.99, a current ratio of 1.14 and a quick ratio of 0.89.
Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.81 by $0.12. Bausch Health Companies had a negative net margin of 20.60% and a positive return on equity of 27.83%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. On average, sell-side analysts anticipate that Bausch Health Companies Inc will post 3.46 earnings per share for the current fiscal year.
In related news, CEO Joseph C. Papa purchased 30,000 shares of the stock in a transaction dated Friday, September 14th. The stock was bought at an average cost of $22.32 per share, for a total transaction of $669,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul Herendeen purchased 10,000 shares of the stock in a transaction dated Friday, September 14th. The shares were bought at an average price of $22.61 per share, with a total value of $226,100.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 165,000 shares of company stock valued at $3,890,700. Company insiders own 11.54% of the company’s stock.
About Bausch Health Companies
Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. It offers dermatology products that treat a range of conditions, including actinic keratosis, acne, atopic dermatitis, psoriasis, cold sores, athlete's foot, nail fungus, and other dermatoses, as well as provides aesthetic medical devices, which address various conditions, including facial wrinkles, acne, pigmentation conditions, body sculpting, skin tightening, and laser hair removal.
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