Bausch Health Cos (NYSE:BHC) Trading Up 7.9% Following Insider Buying Activity

Bausch Health Cos Inc. (NYSE:BHC) traded up 7.9% during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $6.12 and last traded at $6.19. 1,111,952 shares were traded during trading, a decline of 58% from the average session volume of 2,619,134 shares. The stock had previously closed at $5.73.

Specifically, Director John Paulson bought 3,564,059 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were acquired at an average price of $5.94 per share, for a total transaction of $21,170,510.46. Following the completion of the transaction, the director now owns 32,791,702 shares of the company’s stock, valued at approximately $194,782,709.88. This trade represents a 12.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Paulson bought 1,005,376 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were purchased at an average price of $5.47 per share, for a total transaction of $5,499,406.72. Following the transaction, the director now directly owns 29,227,643 shares of the company’s stock, valued at approximately $159,875,207.21. This represents a 3.56% increase in their position. The disclosure for this purchase can be found here. In other news, Director John Paulson bought 1,029,098 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $5.24 per share, for a total transaction of $5,392,473.52. Following the completion of the transaction, the director now owns 28,222,267 shares of the company’s stock, valued at approximately $147,884,679.08. This trade represents a 3.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on Bausch Health Cos from $8.50 to $10.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Wall Street Zen cut Bausch Health Cos from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.42.

Bausch Health Cos Stock Performance

The company has a market cap of $2.29 billion, a PE ratio of -56.30 and a beta of 0.28. The stock’s 50-day simple moving average is $4.91 and its 200 day simple moving average is $6.38.

Institutional Trading of Bausch Health Cos

Several hedge funds and other institutional investors have recently made changes to their positions in BHC. Toronto Dominion Bank raised its holdings in Bausch Health Cos by 1.0% during the fourth quarter. Toronto Dominion Bank now owns 167,212 shares of the company’s stock worth $1,350,000 after purchasing an additional 1,712 shares in the last quarter. Wells Fargo & Company MN increased its position in Bausch Health Cos by 7.9% during the 4th quarter. Wells Fargo & Company MN now owns 25,907 shares of the company’s stock worth $209,000 after purchasing an additional 1,896 shares during the period. American Century Companies Inc. increased its position in Bausch Health Cos by 10.6% during the 4th quarter. American Century Companies Inc. now owns 27,236 shares of the company’s stock worth $220,000 after purchasing an additional 2,600 shares during the period. Blair William & Co. IL raised its stake in shares of Bausch Health Cos by 3.2% during the 4th quarter. Blair William & Co. IL now owns 84,707 shares of the company’s stock worth $683,000 after buying an additional 2,622 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Bausch Health Cos by 244.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company’s stock valued at $27,000 after buying an additional 3,001 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Cos Company Profile

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.