Renaissance Technologies LLC Has $8.51 Million Holdings in Bausch Health Cos Inc. $BHC

Renaissance Technologies LLC increased its holdings in shares of Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,575,772 shares of the company's stock after acquiring an additional 143,581 shares during the period. Renaissance Technologies LLC owned about 0.42% of Bausch Health Cos worth $8,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its position in Bausch Health Cos by 112.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 429,208 shares of the company's stock valued at $2,312,000 after purchasing an additional 227,466 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Bausch Health Cos by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,604,818 shares of the company's stock valued at $19,456,000 after buying an additional 350,823 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Bausch Health Cos by 146.3% in the first quarter. Bessemer Group Inc. now owns 33,257 shares of the company's stock valued at $180,000 after buying an additional 19,757 shares in the last quarter. J. Safra Sarasin Holding AG acquired a new stake in shares of Bausch Health Cos in the first quarter valued at $190,000. Finally, Range Financial Group LLC raised its holdings in shares of Bausch Health Cos by 10.2% in the first quarter. Range Financial Group LLC now owns 193,925 shares of the company's stock valued at $1,047,000 after buying an additional 17,929 shares during the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BHC has been the topic of several research reports. Wall Street Zen upgraded shares of Bausch Health Cos from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Royal Bank Of Canada dropped 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 note on Monday, April 27th. Zacks Research lowered shares of Bausch Health Cos from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th. Weiss Ratings raised shares of Bausch Health Cos from a "sell (d-)" rating to a "sell (d)" rating in a research note on Friday. Finally, Jefferies Financial Group raised shares of Bausch Health Cos to a "hold" rating in a report on Wednesday, July 22nd. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $8.00.

Insider Buying and Selling at Bausch Health Cos

In related news, Director Frank D. Lee sold 24,456 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total value of $132,796.08. Following the transaction, the director directly owned 49,339 shares in the company, valued at $267,910.77. This represents a 33.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 company insiders.

Bausch Health Cos Price Performance

Bausch Health Cos stock opened at $7.01 on Tuesday. The business's 50-day simple moving average is $5.02 and its 200 day simple moving average is $5.45. The company has a quick ratio of 1.08, a current ratio of 1.44 and a debt-to-equity ratio of 54.68. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -2.37 and a beta of 0.38. Bausch Health Cos Inc. has a 12-month low of $4.33 and a 12-month high of $8.69.

Bausch Health Cos (NYSE:BHC - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.30. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. As a group, research analysts anticipate that Bausch Health Cos Inc. will post 4.05 earnings per share for the current year.

Bausch Health Cos Profile

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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