Diameter Capital Partners LP Sells 300,000 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Diameter Capital Partners LP cut its stake in Bausch Health Companies Inc. (NYSE:BHC - Free Report) by 23.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 992,612 shares of the company's stock after selling 300,000 shares during the period. Bausch Health Companies accounts for approximately 1.2% of Diameter Capital Partners LP's investment portfolio, making the stock its 21st largest holding. Diameter Capital Partners LP owned 0.27% of Bausch Health Companies worth $8,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Bausch Health Companies by 1,246.0% in the 4th quarter. JPMorgan Chase & Co. now owns 19,840 shares of the company's stock valued at $160,000 after buying an additional 18,366 shares in the last quarter. SG Americas Securities LLC increased its stake in Bausch Health Companies by 62.0% in the 4th quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company's stock valued at $26,614,000 after buying an additional 1,263,706 shares during the period. Range Financial Group LLC bought a new position in shares of Bausch Health Companies during the 4th quarter valued at $1,004,000. Vanguard Group Inc. lifted its stake in shares of Bausch Health Companies by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company's stock valued at $94,460,000 after purchasing an additional 145,078 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Bausch Health Companies in the fourth quarter worth $180,000. 78.65% of the stock is owned by institutional investors and hedge funds.

Bausch Health Companies Stock Up 5.6%

NYSE:BHC traded up $0.26 during mid-day trading on Monday, reaching $4.85. 2,452,164 shares of the company were exchanged, compared to its average volume of 2,630,119. Bausch Health Companies Inc. has a 12 month low of $3.96 and a 12 month high of $9.85. The company has a fifty day moving average of $5.79 and a 200 day moving average of $7.09. The stock has a market cap of $1.75 billion, a PE ratio of -40.29, a PEG ratio of 0.37 and a beta of 0.34.

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 (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.44). The business had revenue of $2.56 billion during 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%. On average, equities research analysts anticipate that Bausch Health Companies Inc. will post 4.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BHC has been the topic of several recent research reports. StockNews.com lowered Bausch Health Companies from a "buy" rating to a "hold" rating in a report on Saturday. Royal Bank of Canada raised their price objective on 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. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $8.00 price target (down previously 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 and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.42.

Bausch Health Companies Company Profile

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.