Northern Trust Corp decreased its holdings in Bausch Health Companies Inc (NYSE:BHC) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 361,703 shares of the company’s stock after selling 4,922 shares during the period. Northern Trust Corp’s holdings in Bausch Health Companies were worth $6,681,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of BHC. Alliancebernstein L.P. bought a new position in Bausch Health Companies in the 3rd quarter valued at about $2,325,000. Bank of New York Mellon Corp bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at approximately $9,358,000. PNC Financial Services Group Inc. bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at approximately $287,000. FMR LLC bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at approximately $18,584,000. Finally, United Services Automobile Association bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at approximately $234,000. Institutional investors and hedge funds own 54.67% of the company’s stock.
Several equities research analysts recently issued reports on BHC shares. SunTrust Banks began coverage on shares of Bausch Health Companies in a report on Tuesday, March 19th. They set a “buy” rating and a $30.00 price target on the stock. Zacks Investment Research lowered shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Piper Jaffray Companies set a $28.00 target price on shares of Bausch Health Companies and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Bank of America reissued an “underperform” rating and set a $18.00 target price on shares of Bausch Health Companies in a report on Wednesday, March 20th. Finally, Wells Fargo & Co boosted their target price on shares of Bausch Health Companies from $9.00 to $25.19 and gave the stock an “underperform” rating in a report on Tuesday, February 19th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. Bausch Health Companies presently has a consensus rating of “Hold” and a consensus price target of $27.36.
Bausch Health Companies (NYSE:BHC) last released its earnings results on Wednesday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.21. Bausch Health Companies had a negative net margin of 50.83% and a positive return on equity of 39.91%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Bausch Health Companies’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities research analysts forecast that Bausch Health Companies Inc will post 3.92 EPS for the current fiscal year.
In related news, CEO Joseph C. Papa bought 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were bought at an average price of $23.67 per share, for a total transaction of $710,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.87% of the stock is owned by insiders.
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About Bausch Health Companies
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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