Permian Investment Partners LP Sells 3,083,527 Shares of Bausch Health Companies Inc. (NYSE:BHC)

Permian Investment Partners LP decreased its position in Bausch Health Companies Inc. (NYSE:BHC) by 54.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,631,428 shares of the company’s stock after selling 3,083,527 shares during the period. Bausch Health Companies accounts for about 10.4% of Permian Investment Partners LP’s portfolio, making the stock its 5th largest holding. Permian Investment Partners LP’s holdings in Bausch Health Companies were worth $83,522,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors LLC acquired a new position in shares of Bausch Health Companies in the first quarter valued at approximately $27,000. PrairieView Partners LLC acquired a new position in shares of Bausch Health Companies in the first quarter valued at approximately $32,000. BDO Wealth Advisors LLC bought a new stake in shares of Bausch Health Companies in the first quarter valued at approximately $36,000. Safeguard Investment Advisory Group LLC bought a new stake in shares of Bausch Health Companies in the fourth quarter valued at approximately $61,000. Finally, Ameritas Investment Company LLC bought a new stake in shares of Bausch Health Companies in the first quarter valued at approximately $67,000. 67.71% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on BHC. HC Wainwright reiterated a “buy” rating on shares of Bausch Health Companies in a research note on Thursday, July 8th. Royal Bank of Canada cut their price target on Bausch Health Companies from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, May 5th. Finally, Bank of America reiterated an “underperform” rating and issued a $27.00 price target on shares of Bausch Health Companies in a research note on Tuesday, March 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Bausch Health Companies presently has an average rating of “Hold” and an average target price of $33.00.

In related news, EVP Christina Ackermann sold 121,198 shares of the stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $31.83, for a total value of $3,857,732.34. Following the completion of the sale, the executive vice president now directly owns 227,103 shares in the company, valued at $7,228,688.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy B. Wechsler sold 11,037 shares of the stock in a transaction on Wednesday, May 26th. The shares were sold at an average price of $31.79, for a total value of $350,866.23. Following the completion of the sale, the director now owns 98,325 shares of the company’s stock, valued at $3,125,751.75. The disclosure for this sale can be found here. Insiders have sold 149,235 shares of company stock valued at $4,747,159 over the last quarter. Company insiders own 13.75% of the company’s stock.

Shares of NYSE:BHC traded down $0.51 during trading on Thursday, hitting $28.52. 19,841 shares of the company were exchanged, compared to its average volume of 1,531,409. The stock has a 50 day simple moving average of $30.13. The firm has a market cap of $10.22 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.52 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 39.55. Bausch Health Companies Inc. has a 1-year low of $14.86 and a 1-year high of $34.80.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Monday, May 3rd. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.10. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.08 billion. Bausch Health Companies had a negative net margin of 12.66% and a positive return on equity of 352.44%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 earnings per share. On average, equities research analysts expect that Bausch Health Companies Inc. will post 4.25 EPS for the current year.

Bausch Health Companies Profile

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.

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Institutional Ownership by Quarter for Bausch Health Companies (NYSE:BHC)

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