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TD Asset Management Inc Purchases 42,236 Shares of Bausch Health Cos Inc. $BHC

Bausch Health Cos logo with Medical background

Key Points

  • TD Asset Management Inc increased its stake in Bausch Health Cos by 5.0%, owning a total of 889,912 shares worth approximately $5.9 million after acquiring 42,236 additional shares.
  • Director John Paulson significantly boosted his ownership by acquiring 34.7 million shares, raising his total to 70.8 million worth $636.8 million, marking a 96.35% increase.
  • Analysts have recently downgraded Bausch Health from a "strong-buy" to a "buy," with a current consensus rating of "Hold" and a price target of $9.00.
  • MarketBeat previews top five stocks to own in November.

TD Asset Management Inc boosted its position in Bausch Health Cos Inc. (NYSE:BHC - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 889,912 shares of the company's stock after acquiring an additional 42,236 shares during the period. TD Asset Management Inc owned 0.24% of Bausch Health Cos worth $5,922,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BHC. Acadian Asset Management LLC lifted its stake in Bausch Health Cos by 4,134.7% in the first quarter. Acadian Asset Management LLC now owns 673,316 shares of the company's stock valued at $4,347,000 after buying an additional 657,416 shares during the period. Goldman Sachs Group Inc. lifted its stake in Bausch Health Cos by 97.1% in the first quarter. Goldman Sachs Group Inc. now owns 948,322 shares of the company's stock valued at $6,136,000 after buying an additional 467,270 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Bausch Health Cos by 44.0% in the second quarter. Public Employees Retirement System of Ohio now owns 232,026 shares of the company's stock valued at $1,544,000 after buying an additional 70,879 shares during the period. Cubist Systematic Strategies LLC lifted its stake in Bausch Health Cos by 162.9% in the first quarter. Cubist Systematic Strategies LLC now owns 607,656 shares of the company's stock valued at $3,933,000 after buying an additional 376,518 shares during the period. Finally, Nomura Holdings Inc. lifted its stake in Bausch Health Cos by 106.2% in the first quarter. Nomura Holdings Inc. now owns 23,395,000 shares of the company's stock valued at $151,366,000 after buying an additional 12,050,000 shares during the period. Institutional investors own 78.65% of the company's stock.

Insider Transactions at Bausch Health Cos

In other news, Director John Paulson bought 34,721,118 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $9.00 per share, with a total value of $312,490,062.00. Following the transaction, the director owned 70,755,869 shares in the company, valued at $636,802,821. This represents a 96.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 37,964,167 shares of company stock valued at $333,757,793. 19.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen lowered Bausch Health Cos from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Bausch Health Cos in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $9.00.

Read Our Latest Analysis on Bausch Health Cos

Bausch Health Cos Price Performance

NYSE BHC opened at $6.06 on Monday. The business has a 50 day simple moving average of $6.94 and a 200 day simple moving average of $6.01. Bausch Health Cos Inc. has a 52-week low of $4.25 and a 52-week high of $9.85. 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 stock has a market cap of $2.25 billion, a price-to-earnings ratio of 23.29 and a beta of 0.43.

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

About Bausch Health Cos

(Free Report)

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.

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Institutional Ownership by Quarter for Bausch Health Cos (NYSE:BHC)

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