GABELLI & Co INVESTMENT ADVISERS INC. Reduces Holdings in Bausch Health Companies Inc. (NYSE:BHC)

GABELLI & Co INVESTMENT ADVISERS INC. trimmed its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC) by 12.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,200 shares of the company’s stock after selling 2,100 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Bausch Health Companies were worth $151,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BHC. Salem Investment Counselors Inc. acquired a new stake in Bausch Health Companies during the first quarter worth approximately $32,000. Principal Securities Inc. acquired a new stake in Bausch Health Companies during the fourth quarter worth approximately $31,000. Tower Research Capital LLC TRC boosted its position in Bausch Health Companies by 283.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after acquiring an additional 5,112 shares during the last quarter. Bfsg LLC acquired a new position in shares of Bausch Health Companies in the 4th quarter valued at $63,000. Finally, Citigroup Inc. boosted its holdings in shares of Bausch Health Companies by 73.3% in the 3rd quarter. Citigroup Inc. now owns 20,820 shares of the company’s stock valued at $172,000 after purchasing an additional 8,804 shares during the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BHC has been the topic of a number of research analyst reports. Truist Financial decreased their price target on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday. Royal Bank of Canada decreased their price target on shares of Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 23rd. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Saturday. Raymond James initiated coverage on shares of Bausch Health Companies in a report on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of Bausch Health Companies from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Bausch Health Companies has a consensus rating of “Hold” and an average price target of $9.80.

Bausch Health Companies Stock Performance

Shares of NYSE:BHC traded up $0.11 during midday trading on Friday, hitting $5.99. 5,184,186 shares of the company’s stock traded hands, compared to its average volume of 6,141,878. The company has a market cap of $2.16 billion, a PE ratio of -4.83 and a beta of 0.77. The firm’s fifty day moving average price is $6.73 and its two-hundred day moving average price is $8.01. Bausch Health Companies Inc. has a twelve month low of $3.96 and a twelve month high of $11.46.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Thursday, May 2nd. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.16). The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.18 billion. Bausch Health Companies had a negative net margin of 5.07% and a negative return on equity of 2,370.91%. As a group, equities research analysts anticipate that Bausch Health Companies Inc. will post 3.6 EPS for the current fiscal year.

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.