Ritholtz Wealth Management Purchases 142,663 Shares of Bausch Health Cos Inc. $BHC

Ritholtz Wealth Management raised its holdings in Bausch Health Cos Inc. (NYSE:BHC) by 178.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,459 shares of the company’s stock after buying an additional 142,663 shares during the period. Ritholtz Wealth Management owned about 0.06% of Bausch Health Cos worth $1,201,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Bausch Health Cos in the 4th quarter valued at $25,592,000. MUFG Securities EMEA plc bought a new position in Bausch Health Cos in the second quarter valued at approximately $22,644,000. Paulson & CO. Inc. boosted 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 buying an additional 2,500,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Bausch Health Cos by 65.7% in the 4th 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 in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Bausch Health Cos by 290.8% during the fourth quarter. Millennium Management LLC now owns 1,836,137 shares of the company’s stock worth $12,758,000 after buying an additional 1,366,268 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

Insider Activity at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of the firm’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 owned 49,339 shares in the company, valued at $267,910.77. This trade represents a 33.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 company insiders.

Bausch Health Cos Price Performance

Shares of NYSE BHC opened at $4.79 on Monday. The firm’s 50-day moving average price is $5.34 and its 200-day moving average price is $5.86. The firm has a market capitalization of $1.79 billion, a P/E ratio of -1.48 and a beta of 0.40. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68. Bausch Health Cos Inc. has a 1-year low of $4.57 and a 1-year high of $8.69.

Bausch Health Cos (NYSE:BHC) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Bausch Health Cos had a negative net margin of 11.47% and a negative return on equity of 2,922.77%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.37 billion. Equities research analysts anticipate that Bausch Health Cos Inc. will post 4.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on BHC shares. Royal Bank Of Canada reduced their price target 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. Weiss Ratings lowered shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $8.00.

Bausch Health Cos Company 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.