Private Management Group Inc. Purchases 271,170 Shares of Bausch Health Cos Inc. $BHC

Private Management Group Inc. lifted its position in shares of Bausch Health Cos Inc. (NYSE:BHC) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,892,895 shares of the company’s stock after acquiring an additional 271,170 shares during the quarter. Private Management Group Inc.’s holdings in Bausch Health Cos were worth $13,156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BHC. Tidal Investments LLC grew its stake in 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 acquiring an additional 1,276 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Bausch Health Cos by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock worth $690,000 after buying an additional 2,552 shares during the period. Russell Investments Group Ltd. boosted its position 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 worth $51,000 after buying an additional 3,106 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Bausch Health Cos by 6,661.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock worth $35,000 after buying an additional 5,329 shares during the period. Finally, Creative Planning boosted its position in shares of Bausch Health Cos by 16.9% during the second quarter. Creative Planning now owns 50,493 shares of the company’s stock worth $336,000 after buying an additional 7,304 shares during the period. Institutional investors own 78.65% of the company’s stock.

Bausch Health Cos Stock Performance

BHC opened at $5.16 on Friday. Bausch Health Cos Inc. has a 52-week low of $4.93 and a 52-week high of $8.69. The firm has a market capitalization of $1.93 billion, a PE ratio of -1.59 and a beta of 0.40. The company has a debt-to-equity ratio of 54.68, a quick ratio of 0.97 and a current ratio of 1.32. The business’s 50-day simple moving average is $5.47 and its 200 day simple moving average is $5.99.

Bausch Health Cos (NYSE:BHC) last released its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%.The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, sell-side analysts expect that Bausch Health Cos Inc. will post 4.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wall Street Zen cut Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. Barclays reduced 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 reduced 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, Weiss Ratings cut Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $8.00.

Insider Transactions at Bausch Health Cos

In related news, Director Frank D. Lee sold 24,456 shares of the company’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 sale, the director owned 49,339 shares in the company, valued at approximately $267,910.77. This represents a 33.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 20.67% of the company’s stock.

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.