Legal & General Group Plc Acquires New Position in Bausch Health Cos Inc. $BHC

Legal & General Group Plc acquired a new position in shares of Bausch Health Cos Inc. (NYSE:BHC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 331,686 shares of the company’s stock, valued at approximately $1,634,000. Legal & General Group Plc owned 0.09% of Bausch Health Cos as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Caption Management LLC grew its holdings in shares of Bausch Health Cos by 101.1% during the fourth quarter. Caption Management LLC now owns 4,464 shares of the company’s stock valued at $31,000 after purchasing an additional 405,789 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Bausch Health Cos by 12,589.7% during the 4th 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 period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Bausch Health Cos by 6,661.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock worth $35,000 after purchasing an additional 5,329 shares during the last quarter. Tacita Capital Inc bought a new stake in shares of Bausch Health Cos in the 2nd quarter worth approximately $29,000. Finally, Russell Investments Group Ltd. boosted its position in Bausch Health Cos by 65.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after purchasing an additional 3,106 shares during the period. Institutional investors own 78.65% of the company’s stock.

Bausch Health Cos Stock Down 0.3%

Shares of Bausch Health Cos stock opened at $6.54 on Monday. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.44 and a quick ratio of 1.08. Bausch Health Cos Inc. has a 1-year low of $4.33 and a 1-year high of $8.00. The business’s fifty day moving average price is $5.70 and its two-hundred day moving average price is $5.51. The company has a market capitalization of $2.45 billion, a P/E ratio of -2.21 and a beta of 0.37.

Bausch Health Cos (NYSE:BHC) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.30. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%. As a group, research analysts forecast that Bausch Health Cos Inc. will post 4.35 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Bausch Health Cos news, insider Aimee Lenar sold 36,827 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total transaction of $258,893.81. Following the transaction, the insider owned 334,853 shares of the company’s stock, valued at approximately $2,354,016.59. This trade represents a 9.91% decrease in their position. 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 insiders.

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.