Bausch Health Companies Inc. (NYSE:BHC) Stake Boosted by Fountainhead AM LLC

Fountainhead AM LLC grew its stake in shares of Bausch Health Companies Inc. (NYSE:BHC) by 4.7% during the 4th quarter, HoldingsChannel reports. The fund owned 359,516 shares of the company’s stock after acquiring an additional 15,976 shares during the period. Bausch Health Companies accounts for 0.8% of Fountainhead AM LLC’s holdings, making the stock its 23rd biggest position. Fountainhead AM LLC’s holdings in Bausch Health Companies were worth $2,883,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Duality Advisers LP lifted its stake in shares of Bausch Health Companies by 20.4% in the 4th quarter. Duality Advisers LP now owns 88,449 shares of the company’s stock valued at $709,000 after purchasing an additional 15,001 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Bausch Health Companies by 26.9% in the 4th quarter. Mackenzie Financial Corp now owns 1,562,694 shares of the company’s stock valued at $12,543,000 after purchasing an additional 331,462 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Bausch Health Companies in the 4th quarter valued at $185,000. Thompson Investment Management Inc. lifted its stake in shares of Bausch Health Companies by 2.6% in the 4th quarter. Thompson Investment Management Inc. now owns 218,860 shares of the company’s stock valued at $1,755,000 after purchasing an additional 5,505 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Bausch Health Companies in the 4th quarter valued at $555,000. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Bausch Health Companies Stock Performance

Shares of NYSE:BHC traded up $0.08 on Tuesday, hitting $8.53. 4,025,446 shares of the company were exchanged, compared to its average volume of 2,802,447. The company’s 50 day moving average price is $9.29 and its two-hundred day moving average price is $8.16. Bausch Health Companies Inc. has a one year low of $5.57 and a one year high of $11.46. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -5.27 and a beta of 0.85.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The business had revenue of $2.41 billion for 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 firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Research analysts predict that Bausch Health Companies Inc. will post 3.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BHC shares. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada cut their target price on shares of Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group cut their target price on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th.

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.