Man Group plc Buys Shares of 1,451,781 Bausch Health Cos Inc. $BHC

Man Group plc acquired a new position in Bausch Health Cos Inc. (NYSE:BHC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,451,781 shares of the company’s stock, valued at approximately $7,157,000.

Other large investors also recently added to or reduced their stakes in the company. Biglari Capital CORP. bought a new position in shares of Bausch Health Cos during the 2nd quarter valued at approximately $202,475. PDT Partners LLC bought a new stake in Bausch Health Cos during the 2nd quarter worth approximately $206,000. Canada Pension Plan Investment Board bought a new stake in Bausch Health Cos during the 2nd quarter worth approximately $2,418,000. Eschler Asset Management LLP purchased a new position in Bausch Health Cos during the second quarter valued at approximately $185,000. Finally, Legal & General Group Plc purchased a new stake in shares of Bausch Health Cos in the second quarter worth $1,634,000. 78.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Bausch Health Cos Stock Performance

Shares of NYSE:BHC opened at $6.31 on Friday. Bausch Health Cos Inc. has a 52 week low of $4.33 and a 52 week high of $8.00. The stock has a market capitalization of $2.36 billion, a P/E ratio of -2.13 and a beta of 0.38. The firm has a fifty day simple moving average of $5.53 and a two-hundred day simple moving average of $5.49. The company has a quick ratio of 1.08, a current ratio of 1.44 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC) last released its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. On average, analysts expect that Bausch Health Cos Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other Bausch Health Cos news, insider Aimee J. Lenar sold 36,827 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 334,853 shares of the company’s stock, valued at $2,354,016.59. The trade was a 9.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.