520,609 Shares in Bausch Health Cos Inc. $BHC Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in shares of Bausch Health Cos Inc. (NYSE:BHC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 520,609 shares of the company’s stock, valued at approximately $2,565,000. Public Employees Retirement System of Ohio owned about 0.14% of Bausch Health Cos as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Caption Management LLC boosted its stake in shares of Bausch Health Cos by 101.1% during the 4th quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after purchasing an additional 405,789 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Bausch Health Cos by 12,589.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock worth $34,000 after purchasing an additional 4,910 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Bausch Health Cos by 6,661.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock valued at $35,000 after buying an additional 5,329 shares during the period. Tacita Capital Inc bought a new position in shares of Bausch Health Cos during the second quarter valued at approximately $29,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Bausch Health Cos by 65.9% during the second quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after buying an additional 3,106 shares during the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bausch Health Cos

In related news, insider Aimee Lenar sold 36,827 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total transaction of $258,893.81. Following the completion of the sale, the insider directly owned 334,853 shares in the company, valued at $2,354,016.59. This represents a 9.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Zacks Research raised shares of Bausch Health Cos from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Jefferies Financial Group upgraded shares of Bausch Health Cos to a “hold” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $8.00.

Bausch Health Cos Stock Performance

Shares of BHC stock opened at $6.54 on Friday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -2.21 and a beta of 0.37. Bausch Health Cos Inc. has a 52-week low of $4.33 and a 52-week high of $8.00. The company has a quick ratio of 1.08, a current ratio of 1.44 and a debt-to-equity ratio of 54.68. The company’s 50 day moving average is $5.70 and its 200 day moving average is $5.51.

Bausch Health Cos (NYSE:BHC) last announced its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.59 billion. On average, sell-side analysts anticipate that Bausch Health Cos Inc. will post 4.35 EPS for the current fiscal year.

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.