Norges Bank Makes New $25.59 Million Investment in Bausch Health Cos Inc. $BHC

Norges Bank purchased a new position in shares of Bausch Health Cos Inc. (NYSE:BHC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,682,488 shares of the company’s stock, valued at approximately $25,592,000. Norges Bank owned approximately 0.99% of Bausch Health Cos as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Bausch Health Cos by 6,661.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock valued at $35,000 after purchasing an additional 5,329 shares during the period. Russell Investments Group Ltd. grew its position in shares of Bausch Health Cos by 65.9% in the second 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. Camelot Portfolios LLC purchased a new stake in shares of Bausch Health Cos in the fourth quarter valued at $59,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Bausch Health Cos in the first quarter valued at $68,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of Bausch Health Cos in the fourth quarter valued at $70,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Analysts Set New Price Targets

BHC has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Barclays lowered their price objective on Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Royal Bank Of Canada lowered their price objective on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Finally, Wall Street Zen downgraded Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $8.00.

Insider Activity at Bausch Health Cos

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total transaction of $132,796.08. Following the transaction, the director owned 49,339 shares in the company, valued at $267,910.77. The trade was a 33.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by corporate insiders.

Bausch Health Cos Price Performance

Shares of Bausch Health Cos stock opened at $5.17 on Wednesday. Bausch Health Cos Inc. has a twelve month low of $4.80 and a twelve month high of $8.69. The stock has a market capitalization of $1.93 billion, a P/E ratio of -1.60 and a beta of 0.40. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68. The business’s fifty day moving average price is $5.47 and its 200 day moving average price is $6.01.

Bausch Health Cos (NYSE:BHC) last issued its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Bausch Health Cos had a negative net margin of 11.47% and a negative return on equity of 2,922.77%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, research analysts anticipate that Bausch Health Cos Inc. will post 4.08 earnings per share for the current year.

About Bausch Health Cos

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.