The Manufacturers Life Insurance Company Boosts Stock Position in Bausch Health Companies Inc. (NYSE:BHC)

The Manufacturers Life Insurance Company grew its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,378 shares of the company’s stock after purchasing an additional 14,042 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Bausch Health Companies worth $2,108,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its position in Bausch Health Companies by 46.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company’s stock worth $38,501,000 after acquiring an additional 1,510,445 shares during the period. SG Americas Securities LLC lifted its stake in Bausch Health Companies by 62.0% in the fourth quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company’s stock valued at $26,614,000 after purchasing an additional 1,263,706 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Bausch Health Companies by 989.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 611,890 shares of the company’s stock valued at $4,940,000 after purchasing an additional 555,709 shares during the period. Renaissance Technologies LLC raised its stake in shares of Bausch Health Companies by 1,761.5% in the fourth quarter. Renaissance Technologies LLC now owns 495,172 shares of the company’s stock valued at $3,991,000 after buying an additional 468,572 shares during the period. Finally, Bridgewater Associates LP lifted its position in shares of Bausch Health Companies by 113.7% during the 4th quarter. Bridgewater Associates LP now owns 501,912 shares of the company’s stock valued at $4,046,000 after buying an additional 267,089 shares during the last quarter. 78.65% of the stock is currently owned by institutional investors.

Bausch Health Companies Price Performance

Shares of Bausch Health Companies stock opened at $4.55 on Friday. Bausch Health Companies Inc. has a 1 year low of $3.96 and a 1 year high of $9.85. The firm has a market cap of $1.65 billion, a PE ratio of -37.91, a PEG ratio of 0.37 and a beta of 0.34. The company has a 50 day simple moving average of $5.79 and a two-hundred day simple moving average of $7.10.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.44). Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. As a group, research analysts anticipate that Bausch Health Companies Inc. will post 4.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BHC. StockNews.com lowered shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group restated a “hold” rating and set a $8.00 target price (down previously from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. Finally, Royal Bank of Canada lifted their price target on Bausch Health Companies from $8.50 to $10.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, Bausch Health Companies currently has an average rating of “Hold” and an average target price of $7.42.

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.