Diameter Capital Partners LP Has $8 Million Stock Position in Bausch Health Companies Inc. (NYSE:BHC)

Diameter Capital Partners LP lowered its holdings in shares of Bausch Health Companies Inc. (NYSE:BHC - Free Report) by 23.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 992,612 shares of the company's stock after selling 300,000 shares during the quarter. Bausch Health Companies comprises about 1.2% of Diameter Capital Partners LP's investment portfolio, making the stock its 21st biggest position. Diameter Capital Partners LP owned approximately 0.27% of Bausch Health Companies worth $8,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BHC. Vanguard Group Inc. lifted its stake in shares of Bausch Health Companies by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company's stock worth $94,460,000 after buying an additional 145,078 shares during the last quarter. Franklin Resources Inc. lifted its position in Bausch Health Companies by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 5,316,822 shares of the company's stock worth $42,855,000 after acquiring an additional 56,446 shares during the last quarter. Maple Rock Capital Partners Inc. boosted its holdings in Bausch Health Companies by 156.7% during the fourth quarter. Maple Rock Capital Partners Inc. now owns 5,300,000 shares of the company's stock valued at $42,718,000 after acquiring an additional 3,235,100 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Bausch Health Companies by 46.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company's stock valued at $38,501,000 after purchasing an additional 1,510,445 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Bausch Health Companies by 62.0% in 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 period. Institutional investors and hedge funds own 78.65% of the company's stock.

Bausch Health Companies Stock Down 3.2 %

BHC traded down $0.15 during trading on Friday, reaching $4.55. 1,724,544 shares of the company's stock were exchanged, compared to its average volume of 2,637,343. The company has a market capitalization of $1.65 billion, a P/E ratio of -37.91, a PEG ratio of 0.37 and a beta of 0.34. The business has a 50 day moving average price of $5.79 and a 200 day moving average price of $7.10. Bausch Health Companies Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $9.85.

Bausch Health Companies (NYSE:BHC - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share 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 business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. As a group, research analysts forecast that Bausch Health Companies Inc. will post 4.41 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Bausch Health Companies from $8.50 to $10.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Jefferies Financial Group restated a "hold" rating and issued a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a research note on Thursday, February 6th. Finally, StockNews.com upgraded shares of Bausch Health Companies from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock 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.