Canada Pension Plan Investment Board Takes Position in Bausch Health Cos Inc. $BHC

Key Points

• Canada Pension Plan Investment Board acquired 491,168 shares of Bausch Health, worth approximately $2.42 million, giving it a 0.13% stake. Institutional investors collectively own 78.65% of the company.
• Analyst sentiment remains cautious: six analysts rate Bausch Health “Hold” and one rates it “Sell,” producing a consensus “Reduce” rating and an $8.00 price target.
• Bausch Health exceeded quarterly expectations, reporting $1.26 in EPS versus the $0.96 estimate and $2.83 billion in revenue versus the $2.59 billion forecast, though it continues to report negative margins and extremely high debt-to-equity.

Canada Pension Plan Investment Board bought a new stake in Bausch Health Cos Inc. (NYSE:BHC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 491,168 shares of the company's stock, valued at approximately $2,418,000. Canada Pension Plan Investment Board owned 0.13% of Bausch Health Cos at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BHC. Dynamic Technology Lab Private Ltd purchased a new stake in Bausch Health Cos during the 1st quarter valued at about $68,000. Jones Financial Companies Lllp raised its stake in shares of Bausch Health Cos by 1,548.9% in the first quarter. Jones Financial Companies Lllp now owns 24,965 shares of the company's stock worth $162,000 after purchasing an additional 23,451 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Bausch Health Cos by 97.1% in the first quarter. Goldman Sachs Group Inc. now owns 948,322 shares of the company's stock worth $6,136,000 after purchasing an additional 467,270 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Bausch Health Cos by 3.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,847 shares of the company's stock worth $2,102,000 after purchasing an additional 9,834 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Bausch Health Cos by 11.2% during the second quarter. Geode Capital Management LLC now owns 840,418 shares of the company's stock worth $5,597,000 after purchasing an additional 84,892 shares during the period. Hedge funds and other institutional investors own 78.65% of the company's stock.

Insider Buying and Selling

In other news, insider Aimee J. Lenar sold 36,827 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total transaction of $258,893.81. Following the sale, the insider owned 334,853 shares of the company's stock, valued at $2,354,016.59. This trade represents a 9.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Bausch Health Cos from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Jefferies Financial Group upgraded shares of Bausch Health Cos to a "hold" rating in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Bausch Health Cos from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, July 31st. Finally, Zacks Research upgraded shares of Bausch Health Cos from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 20th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $8.00.

Bausch Health Cos Stock Performance

Shares of BHC stock opened at $6.31 on Monday. The stock has a market cap of $2.36 billion, a PE ratio of -2.13 and a beta of 0.38. The business has a 50-day simple moving average of $5.53 and a 200-day simple moving average of $5.49. The company has a quick ratio of 1.08, a current ratio of 1.44 and a debt-to-equity ratio of 54.68. Bausch Health Cos Inc. has a 52-week low of $4.33 and a 52-week high of $8.00.

Bausch Health Cos (NYSE:BHC - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.96 by $0.30. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.59 billion. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%. On average, equities analysts expect that Bausch Health Cos Inc. will post 4.35 EPS for the current year.

About Bausch Health Cos

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.

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