Bausch Health Cos Inc. $BHC Stake Increased by Lido Advisors LLC

Lido Advisors LLC grew its stake in Bausch Health Cos Inc. (NYSE:BHC) by 421.6% in the third quarter, Holdings Channel reports. The fund owned 372,508 shares of the company’s stock after purchasing an additional 301,098 shares during the period. Lido Advisors LLC’s holdings in Bausch Health Cos were worth $2,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BHC. Commonwealth Equity Services LLC raised its holdings in shares of Bausch Health Cos by 22.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,992 shares of the company’s stock worth $76,000 after acquiring an additional 2,400 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Bausch Health Cos by 6,366.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 757,203 shares of the company’s stock valued at $4,876,000 after acquiring an additional 745,493 shares during the last quarter. Ascent Group LLC acquired a new position in shares of Bausch Health Cos during the 3rd quarter valued at about $67,000. State of Wyoming grew its holdings in shares of Bausch Health Cos by 62.1% in the third quarter. State of Wyoming now owns 79,031 shares of the company’s stock valued at $461,000 after purchasing an additional 30,273 shares during the period. Finally, Lebenthal Global Advisors LLC grew its holdings 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. 78.65% of the stock is owned by institutional investors and hedge funds.

Bausch Health Cos Stock Up 1.3%

NYSE:BHC traded up $0.10 on Friday, reaching $8.36. The company’s stock had a trading volume of 2,339,973 shares, compared to its average volume of 4,769,318. Bausch Health Cos Inc. has a 12-month low of $4.33 and a 12-month high of $9.04. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -3.65 and a beta of 0.30. The stock has a 50 day moving average price of $6.57 and a 200 day moving average price of $5.80.

Bausch Health Cos (NYSE:BHC) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.25 by $0.52. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.72 billion. Bausch Health Cos had a negative return on equity of 401.73% and a negative net margin of 7.57%. Equities research analysts expect that Bausch Health Cos Inc. will post 4.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BHC shares. Barclays raised their price objective on shares of Bausch Health Cos from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Bausch Health Cos in a report on Thursday, October 29th. Zacks Research lowered shares of Bausch Health Cos from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 5th. Wall Street Zen raised shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Royal Bank Of Canada raised their price target on shares of Bausch Health Cos from $9.00 to $10.00 and gave the stock a “sector perform” rating in a report on Thursday, October 29th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $8.75.

Insider Activity

In related news, insider Aimee Lenar sold 36,827 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following the sale, the insider directly owned 334,853 shares in the company, valued at approximately $2,354,016.59. The trade was a 9.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 20.67% of the company’s stock.

Bausch Health Cos Profile

Bausch Health Companies Inc. is a global specialty pharmaceutical and medical products company headquartered in Laval, Quebec. It develops, manufactures and markets prescription medicines, over-the-counter products and medical devices, with businesses spanning eye health, gastroenterology, dermatology, neurology and aesthetics. Its portfolio includes Salix products for gastrointestinal conditions, Ortho Dermatologics treatments for skin conditions and Solta Medical aesthetic devices. Bausch Health also retains a controlling ownership interest in Bausch + Lomb, a publicly traded eye-health company whose products include contact lenses, lens care products, pharmaceuticals and surgical devices.