Renaissance Technologies LLC Buys 143,581 Shares of Bausch Health Cos Inc. $BHC

Renaissance Technologies LLC raised its stake in Bausch Health Cos Inc. (NYSE:BHC) by 10.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,575,772 shares of the company’s stock after buying an additional 143,581 shares during the quarter. Renaissance Technologies LLC’s holdings in Bausch Health Cos were worth $8,509,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday. Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research downgraded Bausch Health Cos from a “hold” rating to a “strong sell” rating in a research note on Friday, July 24th. Royal Bank Of Canada reduced their target price 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. Finally, Jefferies Financial Group raised Bausch Health Cos to a “hold” rating in a research note on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $8.00.

Bausch Health Cos Trading Up 1.7%

Shares of NYSE:BHC opened at $7.01 on Tuesday. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -2.37 and a beta of 0.38. Bausch Health Cos Inc. has a 12 month low of $4.33 and a 12 month high of $8.69. The company’s fifty day simple moving average is $5.02 and its 200 day simple moving average is $5.45. 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 (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 firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.59 billion. As a group, research analysts forecast that Bausch Health Cos Inc. will post 4.05 EPS for the current fiscal year.

Insider Buying and Selling at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of the company’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 directly owned 49,339 shares of the company’s stock, valued at $267,910.77. This represents a 33.14% decrease in their ownership of the stock. 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. 20.67% of the stock is owned by corporate insiders.

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.