Private Management Group Inc. Has $9.31 Million Holdings 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. lifted its position in Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,439,426 shares of the company's stock after acquiring an additional 174,176 shares during the quarter. Private Management Group Inc. owned approximately 0.39% of Bausch Health Cos worth $9,313,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BHC. SBI Securities Co. Ltd. lifted its position in Bausch Health Cos by 244.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock worth $27,000 after buying an additional 3,001 shares in the last quarter. Wealthquest Corp bought a new position in shares of Bausch Health Cos during the 1st quarter valued at $58,000. Bank of Nova Scotia bought a new position in shares of Bausch Health Cos during the 4th quarter valued at $83,000. One68 Global Capital LLC acquired a new position in Bausch Health Cos in the 4th quarter valued at $90,000. Finally, Balyasny Asset Management L.P. acquired a new position in Bausch Health Cos during the 4th quarter worth $97,000. Hedge funds and other institutional investors own 78.65% of the company's stock.

Bausch Health Cos Stock Down 0.2%

NYSE BHC traded down $0.02 during midday trading on Tuesday, hitting $6.88. The company had a trading volume of 512,053 shares, compared to its average volume of 2,400,981. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -62.49 and a beta of 0.41. The firm has a fifty day simple moving average of $5.84 and a two-hundred day simple moving average of $6.12. Bausch Health Cos Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $9.85.

Insider Buying and Selling at Bausch Health Cos

In other Bausch Health Cos news, Director John Paulson bought 3,564,059 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were acquired at an average cost of $5.94 per share, for a total transaction of $21,170,510.46. Following the transaction, the director owned 32,791,702 shares in the company, valued at approximately $194,782,709.88. The trade was a 12.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders have bought 6,352,667 shares of company stock worth $35,870,767. 8.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BHC has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on shares of Bausch Health Cos from $8.50 to $10.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of Bausch Health Cos from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.38.

Bausch Health Cos Profile

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.