Banco BTG Pactual S.A. Acquires Shares of 170,700 Bausch Health Cos Inc. $BHC

Banco BTG Pactual S.A. acquired a new stake in shares of Bausch Health Cos Inc. (NYSE:BHC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 170,700 shares of the company’s stock, valued at approximately $1,186,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nuveen LLC lifted its holdings in Bausch Health Cos by 62.4% during the fourth quarter. Nuveen LLC now owns 334,156 shares of the company’s stock valued at $2,323,000 after purchasing an additional 128,386 shares in the last quarter. Private Management Group Inc. lifted its holdings in Bausch Health Cos by 16.7% during the fourth quarter. Private Management Group Inc. now owns 1,892,895 shares of the company’s stock valued at $13,156,000 after purchasing an additional 271,170 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Bausch Health Cos during the fourth quarter valued at $256,000. LPL Financial LLC lifted its holdings in Bausch Health Cos by 134.4% during the fourth quarter. LPL Financial LLC now owns 144,104 shares of the company’s stock valued at $1,002,000 after purchasing an additional 82,637 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in Bausch Health Cos during the fourth quarter valued at $2,303,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

Bausch Health Cos Stock Performance

NYSE:BHC opened at $5.16 on Friday. The company’s 50-day moving average price is $5.47 and its 200-day moving average price is $5.99. 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 company has a market cap of $1.93 billion, a P/E ratio of -1.59 and a beta of 0.40. Bausch Health Cos Inc. has a twelve month low of $4.93 and a twelve month high of $8.69.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.03). The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%. On average, sell-side analysts forecast that Bausch Health Cos Inc. will post 4.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BHC has been the topic of several recent analyst reports. Barclays decreased their price objective on shares of Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings downgraded shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Finally, Royal Bank Of Canada decreased their price objective on shares of 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. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $8.00.

Insider Buying and Selling at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $267,910.77. This trade represents a 33.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company’s stock.

About Bausch Health Cos

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.