Cibc World Market Inc. Buys Shares of 147,267 Bausch Health Cos Inc. $BHC

Cibc World Market Inc. purchased a new position in shares of Bausch Health Cos Inc. (NYSE:BHC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 147,267 shares of the company’s stock, valued at approximately $725,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Paulson & CO. Inc. raised its stake in shares of 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 acquiring an additional 2,500,000 shares during the period. Royal Bank of Canada raised its holdings in shares of Bausch Health Cos by 24.9% in the 1st quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock valued at $61,362,000 after buying an additional 2,262,894 shares during the period. MFN Partners Management LP purchased a new stake in shares of Bausch Health Cos in the 2nd quarter valued at $29,580,000,000. Goldman Sachs Group Inc. lifted its stake in Bausch Health Cos by 65.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,143,641 shares of the company’s stock worth $35,748,000 after acquiring an additional 2,038,813 shares in the last quarter. Finally, Norges Bank acquired a new position in Bausch Health Cos during the 4th quarter worth about $25,592,000. 78.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bausch Health Cos

In related news, insider Aimee J. Lenar sold 36,827 shares of Bausch Health Cos stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following the completion of the transaction, the insider owned 334,853 shares in the company, valued at $2,354,016.59. The trade was a 9.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BHC. Jefferies Financial Group raised Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Zacks Research raised shares of Bausch Health Cos from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Weiss Ratings raised shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $8.00.

Bausch Health Cos Price Performance

BHC stock opened at $6.30 on Friday. The business’s 50-day moving average is $5.50 and its two-hundred day moving average is $5.49. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.44 and a quick ratio of 1.08. The firm has a market capitalization of $2.36 billion, a P/E ratio of -2.13 and a beta of 0.38. Bausch Health Cos Inc. has a 1 year low of $4.33 and a 1 year high of $8.00.

Bausch Health Cos (NYSE:BHC) last announced 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. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%.The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.59 billion. Analysts anticipate that Bausch Health Cos Inc. will post 4.35 earnings per share for the current fiscal 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.