Vestal Point Capital LP Makes New Investment in Bausch Health Companies Inc. (NYSE:BHC)

Vestal Point Capital LP acquired a new stake in Bausch Health Companies Inc. (NYSE:BHC) during the fourth quarter, HoldingsChannel reports. The firm acquired 250,000 shares of the company’s stock, valued at approximately $2,015,000.

A number of other hedge funds have also made changes to their positions in the business. Tobam increased its holdings in shares of Bausch Health Companies by 10.4% in the 4th quarter. Tobam now owns 15,034 shares of the company’s stock valued at $121,000 after acquiring an additional 1,422 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Bausch Health Companies by 1.0% in the 4th quarter. Toronto Dominion Bank now owns 167,212 shares of the company’s stock valued at $1,350,000 after acquiring an additional 1,712 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Bausch Health Companies by 7.9% in the 4th quarter. Wells Fargo & Company MN now owns 25,907 shares of the company’s stock valued at $209,000 after acquiring an additional 1,896 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Bausch Health Companies by 10.6% in the 4th quarter. American Century Companies Inc. now owns 27,236 shares of the company’s stock valued at $220,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Bausch Health Companies by 3.2% in the 4th quarter. Blair William & Co. IL now owns 84,707 shares of the company’s stock valued at $683,000 after acquiring an additional 2,622 shares during the last quarter. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Stock Up 1.6%

NYSE:BHC opened at $4.68 on Monday. The stock’s 50 day moving average price is $5.55 and its 200 day moving average price is $6.96. The company has a market capitalization of $1.69 billion, a PE ratio of -38.96, a P/E/G ratio of 0.37 and a beta of 0.34. Bausch Health Companies Inc. has a 52-week low of $3.96 and a 52-week high of $9.85.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.44). Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. As a group, sell-side analysts anticipate that Bausch Health Companies Inc. will post 4.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada increased their price objective on Bausch Health Companies from $8.50 to $10.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Jefferies Financial Group restated a “hold” rating and set a $8.00 price target (down previously from $12.00) on shares of Bausch Health Companies in a research note on Thursday, February 6th. Finally, StockNews.com downgraded Bausch Health Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.42.

Bausch Health Companies 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.