Royal Bank of Canada Acquires 2,262,894 Shares of Bausch Health Cos Inc. $BHC

Royal Bank of Canada boosted its stake in shares of Bausch Health Cos Inc. (NYSE:BHC) by 24.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,363,498 shares of the company’s stock after purchasing an additional 2,262,894 shares during the quarter. Royal Bank of Canada owned about 3.04% of Bausch Health Cos worth $61,362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BHC. Norges Bank bought a new position in shares of Bausch Health Cos in the fourth quarter valued at about $25,592,000. MUFG Securities EMEA plc bought a new stake in shares of Bausch Health Cos during the 2nd quarter worth about $22,644,000. Paulson & CO. Inc. grew its stake in Bausch Health Cos by 3.5% in the 4th quarter. Paulson & CO. Inc. now owns 73,255,869 shares of the company’s stock valued at $509,128,000 after buying an additional 2,500,000 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Bausch Health Cos by 65.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,143,641 shares of the company’s stock valued at $35,748,000 after buying an additional 2,038,813 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Bausch Health Cos by 290.8% in the 4th quarter. Millennium Management LLC now owns 1,836,137 shares of the company’s stock valued at $12,758,000 after acquiring an additional 1,366,268 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BHC shares. Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a report on Wednesday, July 22nd. Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday. Royal Bank Of Canada decreased their price objective on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Zacks Research cut Bausch Health Cos from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Finally, Weiss Ratings raised Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $8.00.

Insiders Place Their Bets

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total transaction of $132,796.08. Following the completion of the transaction, the director owned 49,339 shares of the company’s stock, valued at approximately $267,910.77. The trade was a 33.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by company insiders.

Bausch Health Cos Trading Up 14.4%

Shares of BHC stock opened at $6.90 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68. The stock has a market cap of $2.58 billion, a P/E ratio of -2.33 and a beta of 0.42. The stock has a 50 day simple moving average of $4.99 and a 200 day simple moving average of $5.47. Bausch Health Cos Inc. has a 1 year low of $4.33 and a 1 year high of $8.69.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.30. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.59 billion. Bausch Health Cos had a negative return on equity of 1,389.97% and a negative net margin of 10.12%. On average, research analysts predict that Bausch Health Cos Inc. will post 4.05 earnings per share for the current fiscal year.

Bausch Health Cos Company 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.