Permian Investment Partners LP Has $83.52 Million Stake in Bausch Health Companies Inc. (NYSE:BHC)

Permian Investment Partners LP lessened its stake in shares of Bausch Health Companies Inc. (NYSE:BHC) by 54.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,631,428 shares of the company’s stock after selling 3,083,527 shares during the quarter. Bausch Health Companies accounts for about 10.4% of Permian Investment Partners LP’s investment portfolio, making the stock its 5th largest position. Permian Investment Partners LP owned 0.73% of Bausch Health Companies worth $83,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Atlas Capital Advisors LLC bought a new position in shares of Bausch Health Companies during the 1st quarter worth approximately $27,000. PrairieView Partners LLC bought a new position in shares of Bausch Health Companies during the 1st quarter worth approximately $32,000. BDO Wealth Advisors LLC acquired a new stake in Bausch Health Companies during the 1st quarter valued at $36,000. Safeguard Investment Advisory Group LLC acquired a new stake in Bausch Health Companies during the 4th quarter valued at $61,000. Finally, Ameritas Investment Company LLC acquired a new stake in Bausch Health Companies during the 1st quarter valued at $67,000. Institutional investors and hedge funds own 67.71% of the company’s stock.

Shares of NYSE BHC traded down $0.51 during midday trading on Thursday, hitting $28.52. The stock had a trading volume of 19,841 shares, compared to its average volume of 1,531,409. Bausch Health Companies Inc. has a fifty-two week low of $14.86 and a fifty-two week high of $34.80. The company has a debt-to-equity ratio of 39.55, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 6.84, a P/E/G ratio of 0.52 and a beta of 1.70. The stock has a 50-day simple moving average of $30.13.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Monday, May 3rd. The company reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.10. Bausch Health Companies had a positive return on equity of 352.44% and a negative net margin of 12.66%. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company earned $0.88 EPS. The firm’s revenue was up .7% on a year-over-year basis. On average, sell-side analysts forecast that Bausch Health Companies Inc. will post 4.25 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on BHC shares. Royal Bank of Canada dropped their price target on Bausch Health Companies from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, May 5th. HC Wainwright reaffirmed a “buy” rating on shares of Bausch Health Companies in a report on Thursday, July 8th. Finally, Bank of America reissued an “underperform” rating and issued a $27.00 target price on shares of Bausch Health Companies in a research note on Tuesday, March 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.00.

In other news, Director Amy B. Wechsler sold 11,037 shares of the firm’s stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $31.79, for a total value of $350,866.23. Following the transaction, the director now directly owns 98,325 shares in the company, valued at approximately $3,125,751.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sam Eldessouky sold 17,000 shares of Bausch Health Companies stock in a transaction dated Friday, June 11th. The stock was sold at an average price of $31.68, for a total value of $538,560.00. Following the transaction, the chief financial officer now owns 116,857 shares in the company, valued at $3,702,029.76. The disclosure for this sale can be found here. Insiders sold a total of 149,235 shares of company stock worth $4,747,159 over the last 90 days. 13.75% of the stock is owned by corporate insiders.

About Bausch Health Companies

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.

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

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