Bridgewater Associates LP Raises Stake in Bausch Health Companies Inc. (NYSE:BHC)

Bridgewater Associates LP lifted its stake in shares of Bausch Health Companies Inc. (NYSE:BHC - Free Report) by 113.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 501,912 shares of the company's stock after acquiring an additional 267,089 shares during the period. Bridgewater Associates LP owned approximately 0.14% of Bausch Health Companies worth $4,046,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BHC. Tobam grew its holdings in shares of Bausch Health Companies by 10.4% in the fourth quarter. Tobam now owns 15,034 shares of the company's stock worth $121,000 after acquiring an additional 1,422 shares during the period. Wells Fargo & Company MN lifted its position in shares of Bausch Health Companies by 7.9% in the fourth quarter. Wells Fargo & Company MN now owns 25,907 shares of the company's stock valued at $209,000 after acquiring an additional 1,896 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Bausch Health Companies by 10.6% in the fourth quarter. American Century Companies Inc. now owns 27,236 shares of the company's stock valued at $220,000 after acquiring an additional 2,600 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Bausch Health Companies by 3.2% in the fourth quarter. Blair William & Co. IL now owns 84,707 shares of the company's stock worth $683,000 after buying an additional 2,622 shares in the last quarter. Finally, Sanders Morris Harris LLC lifted its position in shares of Bausch Health Companies by 16.0% in the fourth quarter. Sanders Morris Harris LLC now owns 28,975 shares of the company's stock worth $234,000 after buying an additional 4,000 shares in the last quarter. 78.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on BHC. Royal Bank of Canada decreased their target price on Bausch Health Companies from $9.00 to $8.50 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Jefferies Financial Group reiterated a "hold" rating and set a $8.00 target price (down from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.17.

Bausch Health Companies Price Performance

BHC remained flat at $5.19 on Wednesday. The company's stock had a trading volume of 963,218 shares, compared to its average volume of 2,782,972. The company has a 50-day simple moving average of $6.29 and a two-hundred day simple moving average of $7.37. Bausch Health Companies Inc. has a 52 week low of $3.96 and a 52 week high of $9.85. The stock has a market cap of $1.91 billion, a PE ratio of -43.25, a price-to-earnings-growth ratio of 0.37 and a beta of 0.43.

Bausch Health Companies (NYSE:BHC - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.51 billion. On average, research analysts forecast that Bausch Health Companies Inc. will post 4.41 earnings per share for the current fiscal 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.