Healthcare of Ontario Pension Plan Trust Fund Sells 4,547,881 Shares of Bausch Health Cos Inc. $BHC

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Bausch Health stake by 35% in the fourth quarter, selling 4.55 million shares and leaving it with 8.45 million shares worth about $58.7 million.
• Insider activity also included Director Frank D. Lee selling 24,456 shares at $5.43 each in a Rule 10b5-1 transaction, reducing his position by 33.14%.
• Bausch Health shares were trading near $5.06, close to their 52-week low, while the company reported Q1 results that missed EPS expectations and analysts maintained a generally cautious outlook with an average rating of “Reduce”.

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,452,119 shares of the company's stock after selling 4,547,881 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 2.28% of Bausch Health Cos worth $58,742,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Bausch Health Cos by 12,589.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company's stock valued at $34,000 after acquiring an additional 4,910 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Bausch Health Cos by 6,661.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company's stock valued at $35,000 after acquiring an additional 5,329 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Bausch Health Cos by 65.9% during the second quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company's stock valued at $51,000 after buying an additional 3,106 shares during the period. Camelot Portfolios LLC purchased a new position in Bausch Health Cos during the fourth quarter valued at $59,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Bausch Health Cos during the first quarter valued at $68,000. Institutional investors own 78.65% of the company's stock.

Insider Activity

In other news, Director Frank D. Lee sold 24,456 shares of Bausch Health Cos stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the transaction, the director owned 49,339 shares of the company's stock, valued at $267,910.77. The trade was a 33.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by corporate insiders.

Bausch Health Cos Stock Performance

Shares of Bausch Health Cos stock opened at $5.06 on Monday. The business has a fifty day simple moving average of $5.46 and a two-hundred day simple moving average of $5.99. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68. The firm has a market capitalization of $1.89 billion, a P/E ratio of -1.56 and a beta of 0.40. Bausch Health Cos Inc. has a 12 month low of $4.93 and a 12 month high of $8.69.

Bausch Health Cos (NYSE:BHC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). The company had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.37 billion. Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%. On average, equities analysts forecast that Bausch Health Cos Inc. will post 4.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wall Street Zen lowered Bausch Health Cos from a "strong-buy" rating to a "buy" rating in a research report on Sunday, February 15th. Weiss Ratings lowered Bausch Health Cos from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, May 4th. Royal Bank Of Canada lowered their price objective on Bausch Health Cos from $10.00 to $9.00 and set a "sector perform" rating for the company in a research report on Monday, April 27th. Finally, Barclays lowered their price objective on Bausch Health Cos from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $8.00.

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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