Bausch Health Cos (NYSE:BHC) Upgraded 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 released on Saturday morning.

Bausch Health Cos Stock Up 0.8%

Shares of Bausch Health Cos stock traded up $0.06 during trading on Friday, reaching $6.87. The stock had a trading volume of 53,817 shares, compared to its average volume of 2,614,997. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 26.29 and a beta of 0.48. The stock has a fifty day moving average price of $6.91 and a two-hundred day moving average price of $6.07. Bausch Health Cos has a 52 week low of $4.25 and a 52 week high of $9.85. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 141.90.

Bausch Health Cos (NYSE:BHC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.07). The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate 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. Sell-side analysts predict that Bausch Health Cos will post 4.41 EPS for the current fiscal year.

Insider Activity at Bausch Health Cos

In related news, Director John Paulson bought 34,721,118 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $9.00 per share, for a total transaction of $312,490,062.00. Following the completion of the acquisition, the director owned 70,755,869 shares of the company's stock, valued at approximately $636,802,821. The trade was a 96.35% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought 37,964,167 shares of company stock valued at $333,757,793 in the last 90 days. Insiders own 19.97% of the company's stock.

Institutional Trading of Bausch Health Cos

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming raised its holdings in Bausch Health Cos by 6.4% during the second quarter. State of Wyoming now owns 63,653 shares of the company's stock worth $424,000 after acquiring an additional 3,855 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Bausch Health Cos by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company's stock worth $690,000 after acquiring an additional 2,552 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Bausch Health Cos during the second quarter worth about $22,644,000. Tidal Investments LLC raised its holdings in Bausch Health Cos by 2.6% during the second quarter. Tidal Investments LLC now owns 50,131 shares of the company's stock worth $334,000 after acquiring an additional 1,276 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Bausch Health Cos by 8.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 183,874 shares of the company's stock worth $1,227,000 after acquiring an additional 14,467 shares in the last quarter. Institutional investors own 78.65% of the company's stock.

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.