Quarry LP Takes Position in Bausch Health Cos Inc. $BHC

Key Points

• Quarry LP has invested $356,000 in Bausch Health Cos Inc., acquiring 55,000 shares during the 1st quarter.
• Bausch Health's stock has seen a 3.6% increase, currently trading at $7.41, despite reporting lower earnings per share than analysts expected in its last announcement.
• Insider transactions are significant, with Director John Paulson increasing his ownership by 96.35%, acquiring over 34 million shares at an average price of $9.00 each.

Quarry LP bought a new stake in shares of Bausch Health Cos Inc. (NYSE:BHC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 55,000 shares of the company's stock, valued at approximately $356,000.

A number of other hedge funds have also modified their holdings of the company. Toronto Dominion Bank raised its position in shares of Bausch Health Cos by 1.0% in the 4th quarter. Toronto Dominion Bank now owns 167,212 shares of the company's stock valued at $1,350,000 after acquiring an additional 1,712 shares during the period. Wells Fargo & Company MN raised its position in shares of Bausch Health Cos by 7.9% in the 4th quarter. Wells Fargo & Company MN now owns 25,907 shares of the company's stock valued at $209,000 after acquiring an additional 1,896 shares during the period. SBI Securities Co. Ltd. raised its position in shares of Bausch Health Cos by 244.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock valued at $27,000 after acquiring an additional 3,001 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of Bausch Health Cos in the 1st quarter valued at approximately $27,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Bausch Health Cos in the 1st quarter valued at approximately $27,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Cos Stock Down 4.1%

BHC stock traded down $0.32 during mid-day trading on Wednesday, hitting $7.37. 2,691,422 shares of the company were exchanged, compared to its average volume of 4,493,149. The company has a debt-to-equity ratio of 141.90, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market cap of $2.73 billion, a P/E ratio of 28.33 and a beta of 0.48. The firm's 50 day simple moving average is $6.80 and its 200 day simple moving average is $6.09. Bausch Health Cos Inc. has a 1-year low of $4.25 and a 1-year high of $9.85.

Bausch Health Cos (NYSE:BHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.07). The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.47 billion. Bausch Health Cos had a negative return on equity of 852.36% and a net margin of 0.99%. Bausch Health Cos has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Bausch Health Cos Inc. will post 4.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Bausch Health Cos news, Director John Paulson acquired 34,721,118 shares of the stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of $9.00 per share, for a total transaction of $312,490,062.00. Following the completion of the acquisition, the director directly owned 70,755,869 shares of the company's stock, valued at approximately $636,802,821. This trade represents a 96.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 44,316,834 shares of company stock worth $369,628,560. Company insiders own 19.97% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Bausch Health Cos from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.00.

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.