The Manufacturers Life Insurance Company Buys 14,042 Shares of Bausch Health Companies Inc. (NYSE:BHC)

The Manufacturers Life Insurance Company lifted its position in Bausch Health Companies Inc. (NYSE:BHC) by 5.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 260,378 shares of the company’s stock after purchasing an additional 14,042 shares during the period. The Manufacturers Life Insurance Company’s holdings in Bausch Health Companies were worth $2,108,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. bought a new stake in Bausch Health Companies in the 4th quarter worth $56,000. Bank of Nova Scotia purchased a new stake in shares of Bausch Health Companies during the fourth quarter worth about $83,000. Alpine Global Management LLC bought a new stake in shares of Bausch Health Companies in the fourth quarter worth about $114,000. Tobam increased its holdings in Bausch Health Companies by 10.4% during the 4th quarter. Tobam now owns 15,034 shares of the company’s stock valued at $121,000 after purchasing an additional 1,422 shares during the period. Finally, Norges Bank bought a new position in Bausch Health Companies during the 4th quarter valued at approximately $141,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

Bausch Health Companies Price Performance

NYSE:BHC 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 company has a market capitalization of $1.65 billion, a PE ratio of -37.91, a P/E/G ratio of 0.37 and a beta of 0.34. The firm’s 50-day moving average price is $5.79 and its 200-day moving average price is $7.10.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com cut Bausch Health Companies from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group reissued a “hold” rating and set a $8.00 price objective (down from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. Finally, Royal Bank of Canada raised their target price on shares of Bausch Health Companies from $8.50 to $10.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.42.

About Bausch Health Companies

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.