Bausch Health Cos (NYSE:BHC) Shares Up 7.9% After Insider Buying Activity

Bausch Health Cos Inc. (NYSE:BHC - Get Free Report)'s stock price was up 7.9% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $6.12 and last traded at $6.19. Approximately 1,111,952 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 2,619,134 shares. The stock had previously closed at $5.73.

Specifically, Director John Paulson bought 3,564,059 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were bought at an average price of $5.94 per share, with a total value of $21,170,510.46. Following the completion of the transaction, the director now directly owns 32,791,702 shares in the company, valued at approximately $194,782,709.88. This represents a 12.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Paulson bought 1,005,376 shares of the stock in a transaction on Thursday, June 12th. The stock was purchased at an average price of $5.47 per share, for a total transaction of $5,499,406.72. Following the completion of the purchase, the director now owns 29,227,643 shares of the company's stock, valued at approximately $159,875,207.21. This trade represents a 3.56% increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, Director John Paulson acquired 1,029,098 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were bought at an average cost of $5.24 per share, for a total transaction of $5,392,473.52. Following the purchase, the director now owns 28,222,267 shares in the company, valued at $147,884,679.08. This trade represents a 3.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

BHC has been the topic of several recent analyst reports. Royal Bank Of Canada raised their price target on Bausch Health Cos from $8.50 to $10.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Wall Street Zen lowered Bausch Health Cos from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $7.42.

Bausch Health Cos Stock Performance

The stock has a fifty day moving average of $4.98 and a 200 day moving average of $6.36. The company has a market capitalization of $2.28 billion, a P/E ratio of -56.09 and a beta of 0.28.

Institutional Investors Weigh In On Bausch Health Cos

Several large investors have recently made changes to their positions in BHC. Acadian Asset Management LLC boosted its position in shares of Bausch Health Cos by 4,134.7% during the first quarter. Acadian Asset Management LLC now owns 673,316 shares of the company's stock valued at $4,347,000 after buying an additional 657,416 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Bausch Health Cos by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,847 shares of the company's stock worth $2,102,000 after acquiring an additional 9,834 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Bausch Health Cos by 97.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 948,322 shares of the company's stock worth $6,136,000 after acquiring an additional 467,270 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Bausch Health Cos by 1,548.9% in the first quarter. Jones Financial Companies Lllp now owns 24,965 shares of the company's stock valued at $162,000 after purchasing an additional 23,451 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Bausch Health Cos in the first quarter valued at $68,000. 78.65% of the stock is owned by institutional investors.

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.