Bausch Health Cos Inc. (NYSE:BHC) Shares Sold by ING Groep NV

Key Points

• ING Groep NV reduced its stake in Bausch Health Cos Inc. by 33.3%, selling 2,500,000 shares and now owns 5,000,000 shares, valued at $32.35 million.
• Bausch Health reported earnings per share (EPS) of $0.90 for the last quarter, which missed analyst expectations of $0.97, despite revenue surpassing estimates at $2.57 billion.
• Insider activity saw Director John Paulson acquire over 3.5 million shares, raising his stake in the company by 12.19% after purchasing at an average price of $5.94 per share.

ING Groep NV decreased its position in Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 33.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,000,000 shares of the company's stock after selling 2,500,000 shares during the quarter. ING Groep NV owned 1.38% of Bausch Health Cos worth $32,350,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Bausch Health Cos by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company's stock worth $94,460,000 after acquiring an additional 145,078 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its position in shares of Bausch Health Cos by 156.7% during the fourth 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. Dimensional Fund Advisors LP raised its stake in Bausch Health Cos by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,113,107 shares of the company's stock valued at $25,089,000 after buying an additional 90,166 shares in the last quarter. Compass Rose Asset Management LP grew its position in shares of Bausch Health Cos by 366.7% in the 4th quarter. Compass Rose Asset Management LP now owns 2,100,000 shares of the company's stock worth $16,926,000 after acquiring an additional 1,650,000 shares in the last quarter. Finally, Private Management Group Inc. lifted its stake in Bausch Health Cos by 13.8% during the first quarter. Private Management Group Inc. now owns 1,439,426 shares of the company's stock worth $9,313,000 after purchasing an additional 174,176 shares during the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.

Bausch Health Cos Stock Down 3.1%

Bausch Health Cos stock opened at $5.71 on Monday. Bausch Health Cos Inc. has a 52 week low of $4.25 and a 52 week high of $9.85. 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 cap of $2.11 billion, a price-to-earnings ratio of 21.96 and a beta of 0.41. The company's 50-day moving average price is $5.98 and its two-hundred day moving average price is $6.08.

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 company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.47 billion. Bausch Health Cos had a net margin of 0.99% and a negative return on equity of 852.36%. On average, analysts expect that Bausch Health Cos Inc. will post 4.41 EPS for the current fiscal year.

Insider Activity

In related news, Director John Paulson acquired 3,564,059 shares of the company's stock in a transaction on Friday, June 13th. The shares were purchased at an average price of $5.94 per share, for a total transaction of $21,170,510.46. Following the purchase, the director owned 32,791,702 shares in the company, valued at $194,782,709.88. This represents a 12.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 6,352,667 shares of company stock valued at $35,870,767 in the last ninety days. 8.05% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Bausch Health Cos from a "hold" rating to a "buy" rating in a report on Saturday. Royal Bank Of Canada upped their price objective on Bausch Health Cos from $8.50 to $10.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd.

Bausch Health Cos 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.

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