Bausch Health Cos Inc. $BHC Shares Sold by Biglari Capital CORP.

Key Points

• Biglari Capital CORP. has reduced its stake in Bausch Health Cos Inc. by 66.1%, making the stock its 10th largest holding, valued at approximately $647,000 after owning 100,070 shares.
• Insider activity increased, with Director John Paulson purchasing over 34 million shares for about $312 million, boosting his ownership by 96.35%.
• Analyst ratings for Bausch Health were raised from a "hold" to a "buy," with an average target price of $9.00 as of recent updates.

Biglari Capital CORP. decreased its position in Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 66.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 100,070 shares of the company's stock after selling 194,930 shares during the period. Bausch Health Cos comprises about 0.1% of Biglari Capital CORP.'s investment portfolio, making the stock its 10th biggest holding. Biglari Capital CORP.'s holdings in Bausch Health Cos were worth $647,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC raised its holdings in shares of Bausch Health Cos by 162.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 607,656 shares of the company's stock valued at $3,933,000 after purchasing an additional 376,518 shares in the last quarter. Graham Capital Management L.P. raised its holdings in shares of Bausch Health Cos by 120.5% during the 1st quarter. Graham Capital Management L.P. now owns 307,604 shares of the company's stock valued at $1,990,000 after purchasing an additional 168,122 shares in the last quarter. Quarry LP bought a new position in shares of Bausch Health Cos during the 1st quarter valued at $356,000. Nomura Holdings Inc. raised its holdings in shares of Bausch Health Cos by 106.2% during the 1st quarter. Nomura Holdings Inc. now owns 23,395,000 shares of the company's stock valued at $151,366,000 after purchasing an additional 12,050,000 shares in the last quarter. Finally, State of Wyoming raised its holdings in shares of Bausch Health Cos by 59.2% during the 1st quarter. State of Wyoming now owns 59,798 shares of the company's stock valued at $387,000 after purchasing an additional 22,230 shares in the last quarter. Institutional investors and hedge funds own 78.65% of the company's stock.

Insider Buying and Selling

In related news, Director John Paulson acquired 34,721,118 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average cost of $9.00 per share, with a total value of $312,490,062.00. Following the transaction, the director owned 70,755,869 shares of the company's stock, valued at $636,802,821. The trade was a 96.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 44,316,834 shares of company stock valued at $369,628,560. Insiders own 19.97% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Bausch Health Cos from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Bausch Health Cos has a consensus rating of "Hold" and a consensus target price of $9.00.

Bausch Health Cos Trading Up 1.9%

Shares of BHC traded up $0.14 on Friday, reaching $7.35. 1,005,904 shares of the company's stock were exchanged, compared to its average volume of 4,745,642. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 141.90. The stock has a market capitalization of $2.72 billion, a P/E ratio of 28.25 and a beta of 0.48. The business has a 50 day moving average price of $6.84 and a two-hundred day moving average price of $6.10. Bausch Health Cos Inc. has a 12 month low of $4.25 and a 12 month high of $9.85.

Bausch Health Cos (NYSE:BHC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.07). Bausch Health Cos had a net margin of 0.99% and a negative return on equity of 852.36%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.47 billion. Bausch Health Cos has set its FY 2025 guidance at EPS. Research analysts anticipate that Bausch Health Cos Inc. will post 4.41 earnings per share for the current year.

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.