SG Americas Securities LLC Cuts Position in Bausch Health Cos Inc. $BHC

Key Points

• SG Americas Securities cut its stake in Bausch Health by 99.5% in Q4, selling 2,948,850 shares and leaving 14,334 shares worth about $100,000.
• Analysts have grown cautious—MarketBeat shows a consensus rating of "Reduce" with a $8.33 consensus target, and several firms have cut ratings or price targets recently.
• Bausch Health reported a quarterly EPS miss ($1.08 vs. $1.21 expected) while beating revenue estimates ($2.78B), and its shares trade near $5.92 with a one-year range of $4.41–$8.69.

SG Americas Securities LLC lessened its holdings in Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 99.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,334 shares of the company's stock after selling 2,948,850 shares during the period. SG Americas Securities LLC's holdings in Bausch Health Cos were worth $100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Bausch Health Cos by 6,661.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company's stock worth $35,000 after buying an additional 5,329 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Bausch Health Cos by 65.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company's stock worth $51,000 after buying an additional 3,106 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Bausch Health Cos in the 1st quarter worth approximately $68,000. Swiss Life Asset Management Ltd purchased a new position in shares of Bausch Health Cos in the 3rd quarter worth approximately $72,000. Finally, Summit Wealth Group LLC purchased a new position in shares of Bausch Health Cos in the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 78.65% of the company's stock.

Wall Street Analyst Weigh In

BHC has been the topic of a number of research analyst reports. Barclays cut their target price on Bausch Health Cos from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings downgraded Bausch Health Cos from a "hold (c)" rating to a "sell (d+)" rating in a research note on Thursday, February 19th. Raymond James Financial reiterated a "market perform" rating on shares of Bausch Health Cos in a research note on Monday, January 26th. Truist Financial upped their price objective on Bausch Health Cos from $7.00 to $8.00 and gave the company a "hold" rating in a research note on Wednesday, January 7th. Finally, Wall Street Zen downgraded Bausch Health Cos from a "strong-buy" rating to a "buy" rating in a research note on Sunday, February 15th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $8.33.

Bausch Health Cos Trading Up 1.6%

NYSE:BHC opened at $5.92 on Friday. The company has a market cap of $2.21 billion, a P/E ratio of 14.08 and a beta of 0.40. The stock's fifty day moving average price is $5.56 and its two-hundred day moving average price is $6.24. Bausch Health Cos Inc. has a 1 year low of $4.41 and a 1 year high of $8.69. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.47 and a quick ratio of 1.08.

Bausch Health Cos (NYSE:BHC - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.13). The company had revenue of $2.78 billion for the quarter, compared to analysts' expectations of $2.71 billion. Bausch Health Cos had a return on equity of 875.00% and a net margin of 1.53%. As a group, analysts expect that Bausch Health Cos Inc. will post 4.41 EPS for the current year.

Bausch Health Cos Company Profile

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.

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