Cubist Systematic Strategies LLC Acquires 376,518 Shares of Bausch Health Cos Inc. $BHC

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Bausch Health Cos Inc. by 162.9%, owning 607,656 shares worth approximately $3.93 million as of its latest SEC filing.
• Insider transactions show that Director John Paulson purchased 34.7 million shares, raising his total ownership to 70.8 million shares, which is valued at around $636.8 million.
• Bausch Health's stock has seen a price fluctuation with a 1-year low of $4.25 and a 1-year high of $9.85, and its latest earnings report showed earnings per share of $0.90, missing analysts' expectations.

Cubist Systematic Strategies LLC lifted its position in shares of Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 162.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 607,656 shares of the company's stock after acquiring an additional 376,518 shares during the quarter. Cubist Systematic Strategies LLC owned 0.17% of Bausch Health Cos worth $3,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. grew its position in Bausch Health Cos by 244.2% during the first quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock worth $27,000 after buying an additional 3,001 shares during the period. Cary Street Partners Financial LLC purchased a new position in shares of Bausch Health Cos during the 1st quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bausch Health Cos during the 1st quarter worth $27,000. Wealthquest Corp purchased a new position in Bausch Health Cos during the first quarter worth approximately $58,000. Finally, Hsbc Holdings PLC purchased a new position in Bausch Health Cos during the first quarter worth approximately $73,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Cos Price Performance

Shares of Bausch Health Cos stock traded down $0.12 on Tuesday, hitting $7.22. The company had a trading volume of 1,208,628 shares, compared to its average volume of 2,652,916. The business has a 50-day simple moving average of $6.85 and a 200-day simple moving average of $6.09. The company has a debt-to-equity ratio of 141.90, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market cap of $2.67 billion, a PE ratio of 27.75 and a beta of 0.48. Bausch Health Cos Inc. has a 52 week low of $4.25 and a 52 week high of $9.85.

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

Insider Activity at Bausch Health Cos

In other news, Director John Paulson purchased 34,721,118 shares of Bausch Health Cos stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average price of $9.00 per share, for a total transaction of $312,490,062.00. Following the transaction, the director owned 70,755,869 shares in the company, valued at $636,802,821. The trade was a 96.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have purchased 43,562,700 shares of company stock valued at $365,820,183. 19.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Bausch Health Cos from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.00.

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.