Royal Bank of Canada Reduces Stake in Bausch Health Cos Inc. $BHC

Key Points

• Royal Bank of Canada reduced its stake in Bausch Health Cos Inc. by 24.8%, now owning 8,418,164 shares valued at approximately $54.5 million.
• Insider activity included Director John Paulson acquiring 34,721,118 shares, increasing his ownership by 96.35% to a total of 70,755,869 shares.
• Wall Street analysts recently upgraded Bausch Health from a "hold" rating to a "buy" rating, with analysts forecasting an average earnings per share of $4.41 for the current fiscal year.

Royal Bank of Canada decreased its position in shares of Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 24.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,418,164 shares of the company's stock after selling 2,770,184 shares during the period. Royal Bank of Canada owned 2.32% of Bausch Health Cos worth $54,466,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. boosted its holdings in Bausch Health Cos by 244.2% in the 1st 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 bought a new position in shares of Bausch Health Cos in the first quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Bausch Health Cos during the first quarter worth about $27,000. Wealthquest Corp bought a new stake in Bausch Health Cos during the 1st quarter valued at approximately $58,000. Finally, Hsbc Holdings PLC purchased a new position in Bausch Health Cos in the 1st quarter worth approximately $73,000. 78.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bausch Health Cos news, Director John Paulson purchased 34,721,118 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $9.00 per share, with a total value of $312,490,062.00. Following the completion of the purchase, the director directly owned 70,755,869 shares in the company, valued at $636,802,821. This trade represents a 96.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 42,533,602 shares of company stock valued at $360,427,710 in the last quarter. Insiders own 19.97% of the company's stock.

Bausch Health Cos Price Performance

Shares of BHC stock traded down $0.06 during trading hours on Wednesday, hitting $7.16. The stock had a trading volume of 1,544,594 shares, compared to its average volume of 4,207,335. 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 stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 27.52 and a beta of 0.48. Bausch Health Cos Inc. has a one year low of $4.25 and a one year high of $9.85. The stock's 50-day moving average price is $6.86 and its two-hundred day moving average price is $6.11.

Bausch Health Cos (NYSE:BHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.90 earnings per share 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 for the quarter, compared to analysts' expectations of $2.47 billion. Bausch Health Cos has set its FY 2025 guidance at EPS. Equities analysts forecast that Bausch Health Cos Inc. will post 4.41 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised 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, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $9.00.

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.