Jefferies Financial Group Inc. Sells 386,641 Shares of Bausch Health Cos Inc. (NYSE:BHC)

Key Points

• Jefferies Financial Group Inc. has significantly reduced its stake in Bausch Health Cos by 85.9%, selling 386,641 shares and retaining 63,359 shares worth approximately $410,000.
• Multiple institutional investors have modified their positions in Bausch Health, with a notable increase of 244.2% by SBI Securities Co. Ltd. in the first quarter.
• Director John Paulson acquired over 3.5 million shares of Bausch Health stock, increasing his ownership by 12.19% and reflecting insider confidence in the company.

Jefferies Financial Group Inc. trimmed its holdings in shares of Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 85.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,359 shares of the company's stock after selling 386,641 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Bausch Health Cos were worth $410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wealthquest Corp purchased a new stake in shares of Bausch Health Cos during the first quarter valued at approximately $58,000. XTX Topco Ltd purchased a new stake in shares of Bausch Health Cos during the first quarter valued at approximately $139,000. Federated Hermes Inc. purchased a new stake in shares of Bausch Health Cos during the first quarter valued at approximately $758,000. Private Management Group Inc. grew its holdings 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 valued at $9,313,000 after purchasing an additional 174,176 shares during the period. Finally, SBI Securities Co. Ltd. grew its holdings 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 valued at $27,000 after purchasing an additional 3,001 shares during the period. 78.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen raised Bausch Health Cos from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada increased their price objective on Bausch Health Cos from $8.50 to $10.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd.

Insider Transactions at Bausch Health Cos

In other Bausch Health Cos news, Director John Paulson acquired 3,564,059 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average price of $5.94 per share, with a total value of $21,170,510.46. Following the completion of the purchase, the director owned 32,791,702 shares of the company's stock, valued at approximately $194,782,709.88. This represents a 12.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 6,352,667 shares of company stock worth $35,870,767 over the last three months. 8.05% of the stock is currently owned by company insiders.

Bausch Health Cos Stock Performance

NYSE BHC traded up $0.01 on Friday, hitting $5.77. 843,013 shares of the stock traded hands, compared to its average volume of 1,445,792. Bausch Health Cos Inc. has a 12 month low of $4.25 and a 12 month high of $9.85. The business's fifty day moving average is $6.10 and its two-hundred day moving average is $6.04. The company has a debt-to-equity ratio of 141.90, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 22.19 and a beta of 0.41.

Bausch Health Cos (NYSE:BHC - Get Free Report) last posted its quarterly 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 company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.47 billion. Bausch Health Cos had a negative return on equity of 852.36% and a net margin of 0.99%. As a group, equities analysts anticipate that Bausch Health Cos Inc. will post 4.41 EPS for the current fiscal year.

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.