Bausch Health Cos Inc. $BHC Stock Acquired by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group increased its Bausch Health stake by 6,366.3% in the third quarter, adding 745,493 shares to own 757,203 shares valued at about $4.9 million.
• Analysts’ consensus rating is Hold, with an average price target of $8.25; ratings range from Strong Buy to Sell.
• Bausch Health beat quarterly estimates, reporting $1.77 in EPS versus $1.25 expected and revenue of $2.90 billion versus $2.72 billion expected.

Chicago Partners Investment Group LLC lifted its position in Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 6,366.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 757,203 shares of the company's stock after buying an additional 745,493 shares during the quarter. Chicago Partners Investment Group LLC owned approximately 0.20% of Bausch Health Cos worth $4,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BHC. Ascent Group LLC purchased a new stake in Bausch Health Cos during the third quarter worth about $67,000. State of Wyoming lifted its position in shares of Bausch Health Cos by 62.1% during the third quarter. State of Wyoming now owns 79,031 shares of the company's stock worth $461,000 after purchasing an additional 30,273 shares in the last quarter. Lebenthal Global Advisors LLC boosted its stake in shares of Bausch Health Cos by 69.4% in the third quarter. Lebenthal Global Advisors LLC now owns 123,613 shares of the company's stock valued at $721,000 after purchasing an additional 50,644 shares during the period. Sanders Morris Harris LLC purchased a new position in shares of Bausch Health Cos in the third quarter valued at approximately $169,000. Finally, Roxbury Financial LLC purchased a new position in shares of Bausch Health Cos in the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 78.65% of the company's stock.

Insider Transactions at Bausch Health Cos

In other Bausch Health Cos news, insider Aimee Lenar sold 36,827 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total value of $258,893.81. Following the transaction, the insider directly owned 334,853 shares of the company's stock, valued at $2,354,016.59. This represents a 9.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BHC. Zacks Research raised shares of Bausch Health Cos from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 21st. Jefferies Financial Group raised their price target on shares of Bausch Health Cos from $6.50 to $8.00 and gave the company a "hold" rating in a research report on Thursday, October 29th. Royal Bank Of Canada raised their price target on shares of Bausch Health Cos from $9.00 to $10.00 and gave the company a "sector perform" rating in a research report on Thursday, October 29th. Wall Street Zen upgraded shares of Bausch Health Cos from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Bausch Health Cos in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.25.

Bausch Health Cos Stock Performance

Shares of BHC opened at $7.99 on Friday. Bausch Health Cos Inc. has a fifty-two week low of $4.33 and a fifty-two week high of $9.04. The company has a market capitalization of $2.99 billion, a PE ratio of -3.49 and a beta of 0.30. The stock has a fifty day moving average of $6.36 and a two-hundred day moving average of $5.74.

Bausch Health Cos (NYSE:BHC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.52. Bausch Health Cos had a negative return on equity of 401.73% and a negative net margin of 7.57%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.72 billion. As a group, equities research analysts forecast that Bausch Health Cos Inc. will post 4.35 earnings per share for the current fiscal year.

Bausch Health Cos Profile

Bausch Health Companies Inc NYSE: BHC is a multinational specialty pharmaceutical company focused on developing, manufacturing and commercializing branded, generic and over-the-counter medicines. Its portfolio serves several therapeutic areas, including gastroenterology, dermatology, neurology, ophthalmology, hospital products and other specialty-care markets.

The company markets products through businesses such as Salix Pharmaceuticals, Ortho Dermatologics, Solta Medical and its international pharmaceutical operations.

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