Gruss & Co. LLC Takes $799,000 Position in Bausch Health Cos Inc. $BHC

Gruss & Co. LLC purchased a new position in shares of Bausch Health Cos Inc. (NYSE:BHC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 120,000 shares of the company’s stock, valued at approximately $799,000. Bausch Health Cos comprises about 3.7% of Gruss & Co. LLC’s holdings, making the stock its 7th largest holding.

Other large investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in Bausch Health Cos in the second quarter valued at approximately $165,000. Alpha Wealth Funds LLC bought a new position in shares of Bausch Health Cos in the 2nd quarter worth $65,000. Stratos Wealth Advisors LLC acquired a new stake in shares of Bausch Health Cos during the second quarter worth $67,000. TD Asset Management Inc increased its holdings in Bausch Health Cos by 5.0% in the second quarter. TD Asset Management Inc now owns 889,912 shares of the company’s stock valued at $5,922,000 after purchasing an additional 42,236 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its stake in Bausch Health Cos by 20.7% in the second quarter. Atria Wealth Solutions Inc. now owns 37,014 shares of the company’s stock valued at $261,000 after buying an additional 6,348 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Cos Stock Performance

Shares of BHC stock opened at $7.04 on Friday. The company has a debt-to-equity ratio of 141.90, a quick ratio of 0.98 and a current ratio of 1.31. Bausch Health Cos Inc. has a 52 week low of $4.25 and a 52 week high of $9.85. The company’s 50 day moving average price is $6.70 and its two-hundred day moving average price is $6.12. The company has a market capitalization of $2.61 billion, a P/E ratio of 27.06 and a beta of 0.43.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.07). The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.47 billion. Bausch Health Cos had a negative return on equity of 852.36% and a net margin of 0.99%. On average, analysts expect that Bausch Health Cos Inc. will post 4.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BHC shares. Wall Street Zen upgraded Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Bausch Health Cos in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.00.

Insider Transactions at Bausch Health Cos

In other news, Director John Paulson purchased 34,721,118 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were purchased at an average price of $9.00 per share, with a total value of $312,490,062.00. Following the purchase, the director directly owned 70,755,869 shares of the company’s stock, valued at $636,802,821. This trade represents a 96.35% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders bought 37,964,167 shares of company stock worth $333,757,793. 19.97% of the stock is currently owned by corporate insiders.

Bausch Health Cos 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.