Bank of America Corp DE Acquires 571,182 Shares of Bausch Health Cos Inc. $BHC

Key Points

• Bank of America acquired 571,182 Bausch Health shares in the second quarter, valued at approximately $2.8 million and representing about 0.15% of the company. Institutional investors collectively own 78.65% of Bausch Health.
• Several major investors also initiated positions, including Paulson & Co., which purchased a stake worth approximately $361.2 million. An insider separately sold 36,827 shares under a pre-arranged Rule 10b5-1 plan.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an $8.00 average price target. Bausch Health recently beat quarterly earnings and revenue estimates, while its shares opened at $5.79.

Bank of America Corp DE acquired a new position in Bausch Health Cos Inc. (NYSE:BHC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 571,182 shares of the company's stock, valued at approximately $2,816,000. Bank of America Corp DE owned approximately 0.15% of Bausch Health Cos as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Paulson & CO. Inc. bought a new stake in Bausch Health Cos during the second quarter worth approximately $361,151,000. Man Group plc purchased a new stake in Bausch Health Cos during the second quarter valued at approximately $7,157,000. Biglari Capital CORP. bought a new stake in shares of Bausch Health Cos in the 2nd quarter valued at approximately $202,475. PDT Partners LLC bought a new stake in shares of Bausch Health Cos in the 2nd quarter valued at approximately $206,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Bausch Health Cos in the 2nd quarter worth approximately $2,418,000. 78.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bausch Health Cos

In other news, insider Aimee Lenar sold 36,827 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following the completion of the sale, the insider owned 334,853 shares of the company's stock, valued at approximately $2,354,016.59. This represents a 9.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 20.67% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BHC. Zacks Research raised Bausch Health Cos from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 21st. Jefferies Financial Group raised shares of Bausch Health Cos to a "hold" rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Bausch Health Cos from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, July 31st. Finally, Wall Street Zen raised shares of Bausch Health Cos from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $8.00.

Bausch Health Cos Trading Up 0.3%

Shares of NYSE BHC opened at $5.79 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.44 and a debt-to-equity ratio of 54.68. The business has a fifty day simple moving average of $6.05 and a two-hundred day simple moving average of $5.51. The firm has a market cap of $2.16 billion, a PE ratio of -1.95 and a beta of 0.37. Bausch Health Cos Inc. has a twelve month low of $4.33 and a twelve month high of $8.00.

Bausch Health Cos (NYSE:BHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.96 by $0.30. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.59 billion. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%. Analysts expect that Bausch Health Cos Inc. will post 4.35 earnings per share for the current fiscal year.

Bausch Health Cos Company Profile

Bausch Health Companies Inc is a multinational specialty pharmaceutical company headquartered in Laval, Quebec. The company develops, manufactures and markets prescription medicines, over-the-counter products and medical devices, with a focus on gastroenterology, neurology, dermatology and other specialty therapeutic areas.

Its portfolio includes gastrointestinal treatments such as Xifaxan, Trulance and Relistor, as well as products for conditions affecting the central nervous system and skin.

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