Ritholtz Wealth Management Boosts Stock Position in Bausch Health Cos Inc. $BHC

Ritholtz Wealth Management increased its stake in Bausch Health Cos Inc. (NYSE:BHC) by 178.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 222,459 shares of the company’s stock after buying an additional 142,663 shares during the quarter. Ritholtz Wealth Management’s holdings in Bausch Health Cos were worth $1,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Bausch Health Cos during the fourth quarter worth about $25,592,000. MUFG Securities EMEA plc bought a new position in Bausch Health Cos in the 2nd quarter worth about $22,644,000. Paulson & CO. Inc. raised its stake in Bausch Health Cos by 3.5% in the fourth quarter. Paulson & CO. Inc. now owns 73,255,869 shares of the company’s stock valued at $509,128,000 after purchasing an additional 2,500,000 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of 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 valued at $35,748,000 after buying an additional 2,038,813 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Bausch Health Cos by 290.8% during the 4th quarter. Millennium Management LLC now owns 1,836,137 shares of the company’s stock worth $12,758,000 after acquiring an additional 1,366,268 shares during the last quarter. 78.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Frank D. Lee sold 24,456 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was 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 represents a 33.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by insiders.

Bausch Health Cos Price Performance

Shares of NYSE BHC opened at $4.79 on Monday. The company has a 50 day simple moving average of $5.34 and a two-hundred day simple moving average of $5.86. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -1.48 and a beta of 0.40. Bausch Health Cos Inc. has a fifty-two week low of $4.57 and a fifty-two week high of $8.69. The company has a debt-to-equity ratio of 54.68, a quick ratio of 0.97 and a current ratio of 1.32.

Bausch Health Cos (NYSE:BHC) last released its earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.03). The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate 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%. Analysts expect that Bausch Health Cos Inc. will post 4.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BHC shares. Weiss Ratings cut Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Royal Bank Of Canada cut their target price on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $8.00.

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.