Private Management Group Inc. Cuts Stake in Bausch Health Companies Inc (BHC)
Private Management Group Inc. decreased its holdings in Bausch Health Companies Inc (NYSE:BHC) by 2.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,200,472 shares of the company’s stock after selling 30,696 shares during the period. Bausch Health Companies makes up about 1.5% of Private Management Group Inc.’s holdings, making the stock its 20th biggest holding. Private Management Group Inc.’s holdings in Bausch Health Companies were worth $29,652,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. GAM Holding AG raised its holdings in Bausch Health Companies by 42.5% during the 1st quarter. GAM Holding AG now owns 28,311 shares of the company’s stock valued at $699,000 after buying an additional 8,438 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in Bausch Health Companies in the 1st quarter worth $1,181,000. AJO LP raised its holdings in Bausch Health Companies by 21.3% in the 1st quarter. AJO LP now owns 877,074 shares of the company’s stock worth $21,664,000 after purchasing an additional 153,945 shares in the last quarter. Highstreet Asset Management Inc. bought a new position in Bausch Health Companies in the 1st quarter worth $354,000. Finally, NumerixS Investment Technologies Inc bought a new position in Bausch Health Companies in the 1st quarter worth $1,428,000. 53.67% of the stock is owned by institutional investors.
Several research analysts have commented on the stock. Cantor Fitzgerald set a $32.00 price objective on shares of Bausch Health Companies and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, May 21st. ValuEngine lowered shares of Bausch Health Companies from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Wells Fargo & Co set a $9.00 price objective on shares of Bausch Health Companies and gave the stock a “sell” rating in a report on Friday, May 17th. Finally, JPMorgan Chase & Co. upgraded shares of Bausch Health Companies from an “underweight” rating to a “neutral” rating and set a $24.80 price objective for the company in a report on Monday, May 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $27.99.
Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings results on Monday, May 6th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.14. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.03 billion. Bausch Health Companies had a negative net margin of 19.27% and a positive return on equity of 47.01%. Bausch Health Companies’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. On average, equities analysts anticipate that Bausch Health Companies Inc will post 4.15 EPS for the current year.
Bausch Health Companies Company Profile
Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.
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