Bausch Health Companies (NYSE:BHC) Shares Gap Up on Insider Buying Activity

Bausch Health Companies Inc. (NYSE:BHC - Get Free Report)'s stock price gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $5.51, but opened at $5.81. Bausch Health Companies shares last traded at $5.77, with a volume of 732,068 shares traded.

Specifically, Director John Paulson bought 1,005,376 shares of the company's stock in a transaction on Thursday, June 12th. The stock was purchased at an average cost of $5.47 per share, for a total transaction of $5,499,406.72. Following the completion of the transaction, the director now owns 29,227,643 shares of the company's stock, valued at $159,875,207.21. This trade represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Paulson bought 1,029,098 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average price of $5.24 per share, with a total value of $5,392,473.52. Following the completion of the transaction, the director now directly owns 28,222,267 shares of the company's stock, valued at approximately $147,884,679.08. The trade was a 3.78% increase in their position. The disclosure for this purchase can be found here. In other news, Director John Paulson bought 754,134 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was purchased at an average cost of $5.05 per share, for a total transaction of $3,808,376.70. Following the completion of the transaction, the director now owns 27,193,169 shares of the company's stock, valued at $137,325,503.45. This trade represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BHC shares. Royal Bank of Canada increased their target price on Bausch Health Companies from $8.50 to $10.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Wall Street Zen downgraded Bausch Health Companies from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $7.42.

Bausch Health Companies Price Performance

The company has a market capitalization of $2.23 billion, a P/E ratio of -50.12, a P/E/G ratio of 0.37 and a beta of 0.28. The stock has a 50-day moving average price of $4.85 and a 200-day moving average price of $6.43.

Hedge Funds Weigh In On Bausch Health Companies

A number of hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. raised its position in shares of Bausch Health Companies by 106.2% during the first quarter. Nomura Holdings Inc. now owns 23,395,000 shares of the company's stock worth $151,366,000 after acquiring an additional 12,050,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in Bausch Health Companies by 0.5% in the first quarter. Vanguard Group Inc. now owns 11,746,480 shares of the company's stock worth $76,152,000 after purchasing an additional 61,621 shares in the last quarter. Franklin Resources Inc. increased its holdings in Bausch Health Companies by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 5,316,822 shares of the company's stock worth $42,855,000 after purchasing an additional 56,446 shares in the last quarter. Maple Rock Capital Partners Inc. increased its holdings in Bausch Health Companies by 156.7% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 5,300,000 shares of the company's stock worth $42,718,000 after purchasing an additional 3,235,100 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Bausch Health Companies by 46.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company's stock worth $38,501,000 after purchasing an additional 1,510,445 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors.

About Bausch Health Companies

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.