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

Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) shares gapped up before the market opened 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 changing hands.

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

Analyst Ratings Changes

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

Bausch Health Companies Stock Down 1.3%

The stock's 50 day moving average price is $4.85 and its two-hundred day moving average price is $6.41. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -49.20, a price-to-earnings-growth ratio of 0.37 and a beta of 0.28.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BHC. Principal Securities Inc. increased its holdings in shares of Bausch Health Companies by 39.7% during the 4th quarter. Principal Securities Inc. now owns 19,220 shares of the company's stock valued at $155,000 after purchasing an additional 5,464 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Bausch Health Companies by 18.4% during the 4th quarter. Handelsbanken Fonder AB now owns 65,100 shares of the company's stock valued at $525,000 after acquiring an additional 10,100 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Bausch Health Companies by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,284,036 shares of the company's stock valued at $10,375,000 after purchasing an additional 14,558 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Bausch Health Companies in the 4th quarter valued at about $180,000. Finally, Raymond James Financial Inc. acquired a new position in Bausch Health Companies in the 4th quarter worth about $180,000. 78.65% of the stock is owned by institutional investors and hedge funds.

Bausch Health Companies Company 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.