Readystate Asset Management LP Makes New Investment in Bausch Health Companies Inc. (NYSE:BHC)

Readystate Asset Management LP purchased a new position in shares of Bausch Health Companies Inc. (NYSE:BHC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 365,761 shares of the company’s stock, valued at approximately $2,933,000. Readystate Asset Management LP owned approximately 0.10% of Bausch Health Companies at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of Bausch Health Companies by 64.9% in the 1st quarter. US Bancorp DE now owns 22,365 shares of the company’s stock worth $511,000 after purchasing an additional 8,801 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Bausch Health Companies by 24.2% in the 1st quarter. HighTower Advisors LLC now owns 10,763 shares of the company’s stock worth $245,000 after purchasing an additional 2,100 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Bausch Health Companies by 116.6% in the first quarter. Private Advisor Group LLC now owns 26,654 shares of the company’s stock worth $609,000 after acquiring an additional 14,350 shares in the last quarter. BlackRock Inc. increased its position in shares of Bausch Health Companies by 8.9% in the first quarter. BlackRock Inc. now owns 183,039 shares of the company’s stock worth $4,183,000 after acquiring an additional 14,908 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Bausch Health Companies by 14.7% in the first quarter. Blair William & Co. IL now owns 82,735 shares of the company’s stock worth $1,890,000 after acquiring an additional 10,590 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BHC has been the topic of several analyst reports. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Jefferies Financial Group lowered their price objective on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $12.00 price objective on shares of Bausch Health Companies in a research report on Friday, April 12th.

Bausch Health Companies Stock Performance

Shares of Bausch Health Companies stock traded down $0.08 on Wednesday, reaching $8.66. The stock had a trading volume of 2,161,431 shares, compared to its average volume of 2,798,349. The business’s 50-day moving average price is $9.27 and its two-hundred day moving average price is $8.15. Bausch Health Companies Inc. has a fifty-two week low of $5.57 and a fifty-two week high of $11.46. The stock has a market cap of $3.16 billion, a P/E ratio of -5.35 and a beta of 0.85.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.01 by $0.14. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.02 EPS. As a group, equities analysts forecast that Bausch Health Companies Inc. will post 3.95 earnings per share for the current fiscal year.

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.