GoldenTree Asset Management LP has recently announced that it has increased stake in Bausch Health Companies Inc (NYSE:BHC) by 19.60%. After grabbing 23.99 million shares, the institutional investor is now in possession of 3.93 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 6.57% having worth around $171.27 million. Moreover, Nomura Securities Co., Ltd. increased its share by 6.8 million to have a control over 18.09 million shares. And National Bank Financial, Inc. raised its holdings to 2.48 million shares by acquiring 15.64 million shares or 4.28% of the stake.
Bausch Health Companies Inc (BHC) concluded trading on 12/28/23 at a closing price of $8.02, with 2.8 million shares of worth about $22.44 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.43% during that period and on Thursday the price saw a gain of about 3.48%. Currently the company’s common shares owned by public are about 361.90M shares, out of which, 357.36M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the BHC stock and their offered price forecasts bring an average price target of $12.84. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $21.88 and could fall to a lowest price of $8.27. The stock’s current price level is 15.58% above of average price target set by the analysts, while a rise to estimated low would result in gain of 3.02% for the stock. However, touching the estimated high of $21.88 would mean a gain of 63.35% for the stock.
Franklin Income Fund, Vanguard Total International Stoc, and Government Pension Fund – Global are the top 3 mutual funds which are holding stakes in Bausch Health Companies Inc Franklin Income Fund is currently holding 15.0 million shares of worth totaling $107.1 million. The company recently came buying 0.0 shares which brought its stake up to 4.11% of the company’s outstanding shares. Vanguard Total International Stoc bought 33364.0 shares, after which its hold over company’s outstanding shares expand to 1.18%, leaving 4.29 million shares with the mutual fund that have a worth of about $30.66 million. Government Pension Fund – Global, after selling 3.22 million shares, have now control over 0.88% of the stake in the company. It holds -0.1 million shares of worth $22.99 million.
However, the stock later moved at a day high price of 8.07, or with a gain of 3.48%. Stock saw a price change of 10.62% in past 5 days and over the past one month there was a price change of 16.91%. Year-to-date (YTD), BHC shares are showing a performance of 27.71% which increased to 29.35% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.57 but also hit the highest price of $10.23 during that period. The average intraday trading volume for Bausch Health Companies Inc shares is 2.25 million. The stock is currently trading 9.22% above its 20-day simple moving average (SMA20), while that difference is up 12.11% for SMA50 and it goes to 3.48% higher than SMA200.
GoldenTree Asset Management LP acquired 23.99 million shares of Bausch Health Companies Inc having value of about $171.27 million. Data submitted at the U.S SEC by GoldenTree Asset Management LP revealed that the firm now holds 3.93 million shares in the company valued at close to $31528496.68, or have control over 19.60% stake in the company. Bausch Health Companies Inc (NYSE: BHC) currently have 361.90M outstanding shares and institutions hold larger chunk of about 78.24% of that. Holding of mutual funds in the company is about 14.19% while other institutional holders and individual stake holders have control over 64.19% and 13.73% of the stake respectively.
The stock has a current market capitalization of $2.93B and its 3Y-monthly beta is at 0.89. It has posted earnings per share of -$2.65 in the same period. It has Quick Ratio of 0.89. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BHC, volatility over the week remained 3.84% while standing at 3.77% over the month.
Analysts are in expectations that Bausch Health Companies Inc (BHC) stock would likely to be making an EPS of $1.04 in the current quarter, while forecast for next quarter EPS is $0.68 and it is $3.82 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.95 which is $1.12 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.03 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.42% while it is estimated to increase by 12.53% in next year.
Analysts at 8 brokerage firms have issued recommendations for the Bausch Health Companies Inc (BHC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.62. Out of those 8 Wall Street analysts, 2 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on September 20, 2023 offering a Buy rating for the stock and assigned a target price range of between $9 and $16 to it.
