Man Group plc Makes New $7.16 Million Investment in Bausch Health Cos Inc. $BHC

Man Group plc bought a new position in Bausch Health Cos Inc. (NYSE:BHC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,451,781 shares of the company’s stock, valued at approximately $7,157,000. Man Group plc owned 0.39% of Bausch Health Cos as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in Bausch Health Cos during the 2nd quarter worth approximately $148,000. Caption Management LLC boosted its holdings in Bausch Health Cos by 101.1% in the 4th 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 period. Caitong International Asset Management Co. Ltd boosted its holdings in Bausch Health Cos by 12,589.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock valued at $34,000 after purchasing an additional 4,910 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Bausch Health Cos by 6,661.2% during the 3rd 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 in the last quarter. Finally, Tacita Capital Inc purchased a new position in shares of Bausch Health Cos during the 2nd quarter valued at $29,000. 78.65% of the stock is currently owned by institutional investors.

Insider Activity at Bausch Health Cos

In related news, insider Aimee J. Lenar sold 36,827 shares of the company’s stock in a transaction dated 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 owned 334,853 shares in the company, valued at $2,354,016.59. The trade was a 9.91% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Bausch Health Cos Stock Up 0.2%

Shares of NYSE:BHC opened at $6.31 on Friday. The stock’s 50-day moving average is $5.53 and its 200 day moving average is $5.49. The company has a market cap of $2.36 billion, a PE ratio of -2.13 and a beta of 0.38. 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.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.96 by $0.30. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.59 billion. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. Sell-side analysts anticipate that Bausch Health Cos Inc. will post 4.35 EPS for the current year.

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.