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

Pictet Asset Management SA lessened its holdings in Bausch Health Companies Inc. (NYSE:BHCGet Rating) by 2.5% during the second quarter, HoldingsChannel.com reports. The fund owned 98,871 shares of the company’s stock after selling 2,546 shares during the period. Pictet Asset Management SA’s holdings in Bausch Health Companies were worth $825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BHC. WASHINGTON TRUST Co bought a new position in Bausch Health Companies in the first quarter valued at about $28,000. First Horizon Advisors Inc. grew its holdings in shares of Bausch Health Companies by 85.1% during the second quarter. First Horizon Advisors Inc. now owns 5,607 shares of the company’s stock worth $45,000 after purchasing an additional 2,578 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Bausch Health Companies by 454.3% during the second quarter. Assetmark Inc. now owns 10,421 shares of the company’s stock worth $87,000 after purchasing an additional 8,541 shares during the last quarter. XR Securities LLC bought a new stake in shares of Bausch Health Companies during the second quarter worth about $91,000. Finally, Range Financial Group LLC grew its holdings in shares of Bausch Health Companies by 11.5% during the second quarter. Range Financial Group LLC now owns 12,013 shares of the company’s stock worth $100,000 after purchasing an additional 1,237 shares during the last quarter. Institutional investors own 70.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BHC. Truist Financial cut Bausch Health Companies from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. cut 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 on the stock. Royal Bank of Canada boosted their price target 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. Finally, Piper Sandler reduced their target price on Bausch Health Companies from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, September 9th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.60.

Bausch Health Companies Stock Performance

Shares of BHC stock opened at $6.94 on Wednesday. The business’s 50 day simple moving average is $7.01 and its 200 day simple moving average is $7.54. Bausch Health Companies Inc. has a one year low of $4.00 and a one year high of $28.35. The stock has a market capitalization of $2.51 billion, a PE ratio of 9.91, a PEG ratio of 0.13 and a beta of 0.99. The company has a debt-to-equity ratio of 48.05, a current ratio of 1.05 and a quick ratio of 0.77.

About Bausch Health Companies

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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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