Bausch Health Cos (NYSE:BHC) Raised to Strong-Buy at Wall Street Zen

Key Points

• Bausch Health Cos has been upgraded to a strong-buy rating by Wall Street Zen, reflecting increased investor confidence.
• Director John Paulson significantly increased his stake in the company by purchasing over 34 million shares, indicating strong insider belief in the company's future.
• Institutional investors have shown heightened interest, with 78.65% of the stock currently owned by institutions and hedge funds.

Wall Street Zen upgraded shares of Bausch Health Cos (NYSE:BHC - Free Report) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

Bausch Health Cos Price Performance

Shares of NYSE BHC traded up $0.09 during trading on Friday, hitting $6.82. 712,757 shares of the company were exchanged, compared to its average volume of 2,626,282. The firm's fifty day moving average price is $6.90 and its 200 day moving average price is $6.07. Bausch Health Cos has a 1 year low of $4.25 and a 1 year high of $9.85. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 26.37 and a beta of 0.48. The company has a debt-to-equity ratio of 141.90, a current ratio of 1.31 and a quick ratio of 0.98.

Bausch Health Cos (NYSE:BHC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.07). The firm had revenue of $2.57 billion for the quarter, compared to analysts' expectations of $2.47 billion. Bausch Health Cos had a net margin of 0.99% and a negative return on equity of 852.36%. Bausch Health Cos has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Bausch Health Cos will post 4.41 earnings per share for the current fiscal year.

Insider Transactions at Bausch Health Cos

In other news, Director John Paulson bought 34,721,118 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average cost of $9.00 per share, with a total value of $312,490,062.00. Following the completion of the acquisition, the director directly owned 70,755,869 shares in the company, valued at approximately $636,802,821. The trade was a 96.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 37,964,167 shares of company stock worth $333,757,793 over the last quarter. 19.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Bausch Health Cos

Several institutional investors have recently made changes to their positions in the company. Goldentree Asset Management LP lifted its holdings in shares of Bausch Health Cos by 13.2% during the 2nd quarter. Goldentree Asset Management LP now owns 34,254,889 shares of the company's stock valued at $227,848,000 after buying an additional 4,004,889 shares during the last quarter. Paulson & CO. Inc. boosted its stake in Bausch Health Cos by 24.0% in the 2nd quarter. Paulson & CO. Inc. now owns 32,791,702 shares of the company's stock valued at $218,393,000 after buying an additional 6,352,667 shares in the last quarter. Nomura Holdings Inc. boosted its stake in Bausch Health Cos by 106.2% in the 1st quarter. Nomura Holdings Inc. now owns 23,395,000 shares of the company's stock valued at $151,366,000 after buying an additional 12,050,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Bausch Health Cos 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. Finally, Maple Rock Capital Partners Inc. boosted its stake in Bausch Health Cos by 14.9% in the second quarter. Maple Rock Capital Partners Inc. now owns 7,808,487 shares of the company's stock worth $52,005,000 after purchasing an additional 1,010,987 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Cos 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.