Legal & General Group Plc purchased a new stake in shares of Bausch Health Cos Inc. (NYSE:BHC – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund purchased 331,686 shares of the company’s stock, valued at approximately $1,634,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in shares of Bausch Health Cos by 2.6% in the second quarter. Tidal Investments LLC now owns 50,131 shares of the company’s stock valued at $334,000 after buying an additional 1,276 shares during the period. Commonwealth Equity Services LLC grew its holdings in Bausch Health Cos by 14.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,067 shares of the company’s stock worth $98,000 after acquiring an additional 1,812 shares during the period. Pictet Asset Management Holding SA raised its position in Bausch Health Cos by 4.1% in the first quarter. Pictet Asset Management Holding SA now owns 54,169 shares of the company’s stock worth $292,000 after acquiring an additional 2,114 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Bausch Health Cos by 2.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock valued at $690,000 after acquiring an additional 2,552 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of 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 in the last quarter. Institutional investors own 78.65% of the company’s stock.
Insider Buying and Selling at Bausch Health Cos
In other news, insider Aimee Lenar sold 36,827 shares of Bausch Health Cos stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following the transaction, the insider directly owned 334,853 shares of the company’s stock, valued at $2,354,016.59. This trade represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 Trading Down 0.3%
Bausch Health Cos (NYSE:BHC – Get Free Report) last posted its quarterly earnings data 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. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%.The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. Sell-side analysts forecast that Bausch Health Cos Inc. will post 4.35 earnings per share for the current year.
Analysts Set New Price Targets
BHC has been the topic of several recent research reports. Wall Street Zen raised shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Jefferies Financial Group upgraded shares of Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Zacks Research raised Bausch Health Cos from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $8.00.
Check Out Our Latest Research Report on BHC
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.
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