Pictet Asset Management SA Sells 2,546 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Pictet Asset Management SA cut its position in Bausch Health Companies Inc. (NYSE:BHCGet Rating) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,871 shares of the company’s stock after selling 2,546 shares during the quarter. Pictet Asset Management SA’s holdings in Bausch Health Companies were worth $825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BHC. Segantii Capital Management Ltd grew its stake in shares of Bausch Health Companies by 281.3% in the second quarter. Segantii Capital Management Ltd now owns 5,700,000 shares of the company’s stock valued at $47,652,000 after buying an additional 4,205,000 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Bausch Health Companies by 903.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,153,789 shares of the company’s stock valued at $26,370,000 after purchasing an additional 1,038,789 shares during the last quarter. National Bank of Canada FI lifted its holdings in Bausch Health Companies by 421.5% during the 1st quarter. National Bank of Canada FI now owns 855,183 shares of the company’s stock valued at $19,529,000 after purchasing an additional 691,196 shares during the last quarter. Private Management Group Inc. lifted its holdings in Bausch Health Companies by 33.6% during the 2nd quarter. Private Management Group Inc. now owns 1,671,142 shares of the company’s stock valued at $13,971,000 after purchasing an additional 420,534 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Bausch Health Companies by 330.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 540,515 shares of the company’s stock valued at $12,348,000 after purchasing an additional 414,858 shares during the last quarter. 70.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BHC. JPMorgan Chase & Co. downgraded Bausch Health Companies from an “overweight” rating to a “neutral” rating in a report on Thursday, July 28th. StockNews.com began coverage on Bausch Health Companies in a report on Wednesday, October 12th. They set a “hold” rating for the company. Truist Financial downgraded Bausch Health Companies from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Piper Sandler cut their price target on Bausch Health Companies from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, September 9th. Finally, Royal Bank of Canada lifted their target price on Bausch Health Companies from $4.50 to $8.00 and gave the stock a “sector perform” rating in a report on Thursday, September 1st. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.60.

Bausch Health Companies Price Performance

BHC stock opened at $6.94 on Wednesday. The company has a market cap of $2.51 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 0.13 and a beta of 0.99. The business has a 50-day simple moving average of $7.01 and a 200 day simple moving average of $7.54. Bausch Health Companies Inc. has a 52 week low of $4.00 and a 52 week high of $28.35. The company has a quick ratio of 0.77, a current ratio of 1.05 and a debt-to-equity ratio of 48.05.

Bausch Health Companies Profile

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Bausch Health Companies Inc, together with its subsidiaries, develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through five segments: Bausch + Lomb, Salix, International Rx, Ortho Dermatologics, and Diversified Products.

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Institutional Ownership by Quarter for Bausch Health Companies (NYSE:BHC)

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