Bausch Health Cos (NYSE:BHC) Stock Price Up 7.9% Following Insider Buying Activity

Bausch Health Cos Inc. (NYSE:BHC - Get Free Report)'s stock price was up 7.9% during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $6.12 and last traded at $6.19. Approximately 1,111,952 shares were traded 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 on Friday, June 13th. The shares were acquired at an average price of $5.94 per share, with a total value of $21,170,510.46. Following the transaction, the director now owns 32,791,702 shares of the company's stock, valued at approximately $194,782,709.88. This trade represents a 12.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Paulson purchased 1,005,376 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were purchased at an average cost 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. The trade was a 3.56% increase in their position. The disclosure for this purchase can be found here. In other news, Director John Paulson acquired 1,029,098 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of $5.24 per share, with a total value of $5,392,473.52. Following the transaction, the director now directly owns 28,222,267 shares in the company, valued at approximately $147,884,679.08. This represents a 3.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Bausch Health Cos from $8.50 to $10.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Wall Street Zen lowered Bausch Health Cos from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Bausch Health Cos presently has an average rating of "Hold" and an average price target of $7.42.

Bausch Health Cos Stock Performance

The firm has a market capitalization of $2.27 billion, a PE ratio of -55.59 and a beta of 0.28. The firm's 50 day moving average price is $4.88 and its 200-day moving average price is $6.38.

Institutional Trading of Bausch Health Cos

A number of institutional investors and hedge funds have recently made changes to their positions in BHC. Nomura Holdings Inc. increased its holdings 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 worth $151,366,000 after acquiring an additional 12,050,000 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of Bausch Health Cos by 156.7% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 5,300,000 shares of the company's stock worth $42,718,000 after purchasing an additional 3,235,100 shares during the last quarter. Compass Rose Asset Management LP boosted its stake in Bausch Health Cos by 366.7% during the 4th quarter. Compass Rose Asset Management LP now owns 2,100,000 shares of the company's stock worth $16,926,000 after purchasing an additional 1,650,000 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Bausch Health Cos by 46.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company's stock valued at $38,501,000 after buying an additional 1,510,445 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in 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 worth $4,347,000 after acquiring an additional 657,416 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Cos

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.

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