Bausch Health Companies (NYSE:BHC) Shares Up 4.5% After Insider Buying Activity

Shares of Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) shot up 4.5% on Thursday following insider buying activity. The company traded as high as $5.57 and last traded at $5.57. 1,848,494 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 2,566,132 shares. The stock had previously closed at $5.33.

Specifically, Director John Paulson purchased 1,005,376 shares of the company's stock in a transaction on Thursday, June 12th. The stock was bought at an average price of $5.47 per share, with a total value 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 approximately $159,875,207.21. This represents a 3.56% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Paulson acquired 1,029,098 shares of the stock in a transaction dated 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 transaction, the director now owns 28,222,267 shares of the company's stock, valued at approximately $147,884,679.08. This trade represents a 3.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. In other Bausch Health Companies news, Director John Paulson acquired 754,134 shares of the stock in a transaction dated Tuesday, June 10th. The stock was acquired at an average price of $5.05 per share, with a total value of $3,808,376.70. Following the completion of the transaction, the director now directly owns 27,193,169 shares in the company, valued at approximately $137,325,503.45. This trade represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BHC shares. Wall Street Zen downgraded 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 target 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. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $7.42.

Bausch Health Companies Stock Up 9.2%

The stock has a 50 day simple moving average of $4.85 and a 200 day simple moving average of $6.42. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -50.12, a PEG ratio of 0.37 and a beta of 0.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Cary Street Partners Financial LLC purchased a new position in Bausch Health Companies in the first quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in Bausch Health Companies in the first quarter valued at about $27,000. SBI Securities Co. Ltd. boosted its holdings in Bausch Health Companies by 244.2% in the first quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock valued at $27,000 after purchasing an additional 3,001 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Bausch Health Companies in the fourth quarter valued at about $56,000. Finally, Wealthquest Corp purchased a new position in Bausch Health Companies in the first quarter valued at about $58,000. Hedge funds and other institutional investors own 78.65% of the company's stock.

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.