Hillsdale Investment Management Inc. Purchases Shares of 524,892 Bausch Health Cos Inc. $BHC

Key Points

• Hillsdale Investment Management initiated a new position in Bausch Health, buying 524,892 shares valued at about $3.65 million in the fourth quarter.
• Insider activity included Director Frank D. Lee selling 24,456 shares in May under a pre-arranged trading plan, reducing his holdings by about 33%.
• Bausch Health reported mixed quarterly results: revenue topped estimates at $2.46 billion, but EPS of $0.78 missed expectations; analysts currently have an average rating of “Reduce” with a $8.00 target price.

Hillsdale Investment Management Inc. purchased a new stake in Bausch Health Cos Inc. (NYSE:BHC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 524,892 shares of the company's stock, valued at approximately $3,651,000. Hillsdale Investment Management Inc. owned approximately 0.14% of Bausch Health Cos at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tidal Investments LLC increased its stake in Bausch Health Cos by 2.6% in the second quarter. Tidal Investments LLC now owns 50,131 shares of the company's stock valued at $334,000 after purchasing an additional 1,276 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Bausch Health Cos by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company's stock worth $690,000 after acquiring an additional 2,552 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Bausch Health Cos by 65.9% during the second quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company's stock worth $51,000 after acquiring an additional 3,106 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Bausch Health Cos by 6,661.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company's stock worth $35,000 after acquiring an additional 5,329 shares in the last quarter. Finally, Creative Planning increased its position in shares of Bausch Health Cos by 16.9% during the second quarter. Creative Planning now owns 50,493 shares of the company's stock worth $336,000 after acquiring an additional 7,304 shares in the last quarter. 78.65% of the stock is owned by institutional investors.

Insider Transactions at Bausch Health Cos

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 20.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Weiss Ratings downgraded shares of 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 decreased their target price on shares of 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. Barclays decreased their target price on shares of 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. Finally, Wall Street Zen downgraded shares of Bausch Health Cos from a "strong-buy" rating to a "buy" rating in a research report on Sunday, February 15th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $8.00.

Bausch Health Cos Trading Up 0.1%

Shares of BHC stock opened at $5.37 on Monday. Bausch Health Cos Inc. has a 52-week low of $4.41 and a 52-week high of $8.69. The company has a debt-to-equity ratio of 54.68, a quick ratio of 0.97 and a current ratio of 1.32. The company has a 50-day simple moving average of $5.46 and a two-hundred day simple moving average of $6.07. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -1.66 and a beta of 0.40.

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