Dimensional Fund Advisors LP Raises Position in Bausch Health Cos Inc. $BHC

Key Points

• Dimensional Fund Advisors increased its Bausch Health stake by 10.8% in the first quarter, purchasing 350,823 additional shares and bringing its position to 3.6 million shares, or roughly 0.96% of the company.
• Other institutional investors also added or initiated positions, and institutions now own 78.65% of Bausch Health’s outstanding stock. A company director separately sold 24,456 shares under a pre-arranged trading plan.
• Bausch Health exceeded quarterly earnings and revenue expectations, reporting $1.26 in EPS versus $0.96 expected and $2.83 billion in revenue versus $2.59 billion forecast. Despite the beat, analyst sentiment remains cautious, with an average “Reduce” rating and an $8 consensus price target.

Dimensional Fund Advisors LP grew its stake in Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 10.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,604,818 shares of the company's stock after purchasing an additional 350,823 shares during the period. Dimensional Fund Advisors LP owned approximately 0.96% of Bausch Health Cos worth $19,456,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new stake in Bausch Health Cos in the 4th quarter worth about $3,651,000. Private Management Group Inc. boosted its position in shares of Bausch Health Cos by 16.7% during the fourth quarter. Private Management Group Inc. now owns 1,892,895 shares of the company's stock valued at $13,156,000 after buying an additional 271,170 shares during the period. Banco BTG Pactual S.A. purchased a new position in shares of Bausch Health Cos during the fourth quarter valued at approximately $1,186,000. Ritholtz Wealth Management grew its stake in shares of Bausch Health Cos by 178.8% during the first quarter. Ritholtz Wealth Management now owns 222,459 shares of the company's stock valued at $1,201,000 after buying an additional 142,663 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Bausch Health Cos during the fourth quarter valued at approximately $25,592,000. Institutional investors own 78.65% of the company's stock.

Insider Buying and Selling

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total transaction of $132,796.08. Following the completion of the sale, the director directly owned 49,339 shares of the company's stock, valued at approximately $267,910.77. This represents a 33.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company's stock.

Bausch Health Cos Stock Performance

BHC stock opened at $6.24 on Friday. Bausch Health Cos Inc. has a 1-year low of $4.33 and a 1-year high of $8.69. The business has a 50-day moving average price of $5.09 and a 200 day moving average price of $5.44. The company has a market capitalization of $2.33 billion, a P/E ratio of -2.11 and a beta of 0.38. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.44 and a quick ratio of 1.08.

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, beating analysts' consensus estimates of $0.96 by $0.30. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. As a group, equities research analysts forecast that Bausch Health Cos Inc. will post 4.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BHC shares. Weiss Ratings raised Bausch Health Cos from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, July 31st. Jefferies Financial Group raised shares of Bausch Health Cos to a "hold" rating in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of Bausch Health Cos from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Royal Bank Of Canada reduced their price target on shares of Bausch Health Cos from $10.00 to $9.00 and set a "sector perform" rating on the stock in a research note on Monday, April 27th. Finally, Zacks Research cut shares of Bausch Health Cos from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Bausch Health Cos has an average rating of "Reduce" and a consensus target price of $8.00.

Bausch Health Cos Profile

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.

Want to see what other hedge funds are holding BHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bausch Health Cos Inc. (NYSE:BHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source