Private Management Group Inc. Boosts Stock Position in Bausch Health Cos Inc. (NYSE:BHC)

Key Points

• Private Management Group Inc. increased its stake in Bausch Health Cos by 13.8%, acquiring an additional 174,176 shares, bringing its total ownership to approximately $9.31 million.
• Insider trading activity includes Director John Paulson acquiring over 3.56 million shares at an average price of $5.94, increasing his position by 12.19%.
• Wall Street analysts have mixed views on Bausch Health, with a consensus "Hold" rating and an average price target of $7.30.

Private Management Group Inc. increased its position in shares of Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,439,426 shares of the company's stock after buying an additional 174,176 shares during the period. Private Management Group Inc. owned about 0.39% of Bausch Health Cos worth $9,313,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BHC. Raymond James Financial Inc. acquired a new stake in shares of Bausch Health Cos during the 4th quarter valued at approximately $180,000. American Century Companies Inc. boosted its position in Bausch Health Cos by 10.6% during the fourth quarter. American Century Companies Inc. now owns 27,236 shares of the company's stock worth $220,000 after purchasing an additional 2,600 shares during the period. Vanguard Group Inc. grew its holdings in shares of Bausch Health Cos by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company's stock worth $94,460,000 after purchasing an additional 145,078 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Bausch Health Cos by 1,246.0% during the 4th quarter. JPMorgan Chase & Co. now owns 19,840 shares of the company's stock valued at $160,000 after acquiring an additional 18,366 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Bausch Health Cos by 3.2% in the fourth quarter. Blair William & Co. IL now owns 84,707 shares of the company's stock worth $683,000 after buying an additional 2,622 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Cos Stock Up 1.6%

NYSE:BHC traded up $0.11 during trading hours on Monday, reaching $6.88. 834,642 shares of the company's stock were exchanged, compared to its average volume of 2,412,881. The company has a market capitalization of $2.55 billion, a P/E ratio of -62.55 and a beta of 0.41. The business's 50-day simple moving average is $5.80 and its two-hundred day simple moving average is $6.12. Bausch Health Cos Inc. has a 12 month low of $4.25 and a 12 month high of $9.85.

Insider Activity

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 acquired at an average price of $5.94 per share, for a total transaction of $21,170,510.46. Following the acquisition, the director directly owned 32,791,702 shares in the company, valued at $194,782,709.88. This represents a 12.19% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased 6,352,667 shares of company stock valued at $35,870,767 in the last 90 days. 8.05% of the stock is owned by company insiders.

Analyst Ratings Changes

BHC has been the subject of a number of analyst reports. Wall Street Zen downgraded Bausch Health Cos from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. Royal Bank Of Canada lifted their price target on Bausch Health Cos from $8.50 to $10.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.38.

About Bausch Health Cos

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.