Renaissance Technologies LLC Boosts Stake in Bausch Health Companies Inc. (NYSE:BHC)

Renaissance Technologies LLC boosted its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC - Free Report) by 1,761.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 495,172 shares of the company's stock after buying an additional 468,572 shares during the period. Renaissance Technologies LLC owned approximately 0.14% of Bausch Health Companies worth $3,991,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BHC. Vanguard Group Inc. lifted its stake in Bausch Health Companies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company's stock worth $94,460,000 after purchasing an additional 145,078 shares during the last quarter. Franklin Resources Inc. lifted its stake in Bausch Health Companies by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 5,316,822 shares of the company's stock worth $42,855,000 after purchasing an additional 56,446 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Bausch Health Companies by 46.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company's stock worth $38,501,000 after purchasing an additional 1,510,445 shares during the last quarter. SG Americas Securities LLC lifted its stake in Bausch Health Companies by 62.0% during the fourth quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company's stock worth $26,614,000 after purchasing an additional 1,263,706 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Bausch Health Companies by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,284,036 shares of the company's stock worth $10,375,000 after purchasing an additional 14,558 shares during the last quarter. Institutional investors own 78.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BHC shares. Royal Bank of Canada dropped their price target on Bausch Health Companies from $9.00 to $8.50 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Jefferies Financial Group reiterated a "hold" rating and issued a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. Finally, StockNews.com downgraded Bausch Health Companies from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $7.17.

Bausch Health Companies Price Performance

NYSE:BHC traded down $0.03 during mid-day trading on Monday, reaching $5.41. 1,639,680 shares of the company's stock traded hands, compared to its average volume of 2,703,614. Bausch Health Companies Inc. has a 12-month low of $3.96 and a 12-month high of $9.85. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -45.08, a PEG ratio of 0.37 and a beta of 0.43. The company has a 50 day moving average price of $6.21 and a 200-day moving average price of $7.29.

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

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.