ING Groep NV Sells 2,500,000 Shares of Bausch Health Cos Inc. (NYSE:BHC)

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 lessened its position in shares of Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 33.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,000,000 shares of the company's stock after selling 2,500,000 shares during the period. ING Groep NV owned 1.38% of Bausch Health Cos worth $32,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Maple Rock Capital Partners Inc. boosted its stake in Bausch Health Cos by 156.7% in the 4th 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 period. Compass Rose Asset Management LP raised its holdings in shares of Bausch Health Cos by 366.7% during the 4th quarter. Compass Rose Asset Management LP now owns 2,100,000 shares of the company's stock valued at $16,926,000 after buying an additional 1,650,000 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Bausch Health Cos by 1,761.5% during the fourth quarter. Renaissance Technologies LLC now owns 495,172 shares of the company's stock valued at $3,991,000 after buying an additional 468,572 shares during the period. Bridgewater Associates LP boosted its position in Bausch Health Cos by 113.7% during the 4th quarter. Bridgewater Associates LP now owns 501,912 shares of the company's stock valued at $4,046,000 after acquiring an additional 267,089 shares in the last quarter. Finally, Vestal Point Capital LP bought a new stake in shares of Bausch Health Cos during the fourth quarter valued at approximately $2,015,000. Institutional investors own 78.65% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BHC shares. Wall Street Zen raised shares of Bausch Health Cos from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada boosted their price target 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.

Insider Activity at Bausch Health Cos

In related news, Director John Paulson acquired 3,564,059 shares of the stock in a transaction dated Friday, June 13th. The shares were purchased at an average cost of $5.94 per share, with a total value of $21,170,510.46. Following the transaction, the director directly owned 32,791,702 shares in the company, valued at approximately $194,782,709.88. This represents a 12.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought a total of 6,352,667 shares of company stock valued at $35,870,767 over the last 90 days. 8.05% of the stock is owned by company insiders.

Bausch Health Cos Stock Performance

Shares of BHC traded up $0.05 during trading hours on Friday, hitting $5.81. The stock had a trading volume of 471,116 shares, compared to its average volume of 2,375,955. Bausch Health Cos Inc. has a 12 month low of $4.25 and a 12 month high of $9.85. The firm has a market capitalization of $2.15 billion, a PE ratio of 22.33 and a beta of 0.41. 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 fifty day moving average price of $6.08 and a 200 day moving average price of $6.05.

Bausch Health Cos (NYSE:BHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.07). The business had revenue of $2.57 billion for the quarter, compared to analysts' expectations of $2.47 billion. Bausch Health Cos had a net margin of 0.99% and a negative return on equity of 852.36%. Analysts anticipate that Bausch Health Cos Inc. will post 4.41 EPS 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.