Y Intercept Hong Kong Ltd Sells 107,806 Shares of Bausch Health Cos Inc. $BHC

Y Intercept Hong Kong Ltd lessened its holdings in Bausch Health Cos Inc. (NYSE:BHC) by 50.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 104,425 shares of the company’s stock after selling 107,806 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Bausch Health Cos were worth $564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BHC. Dynamic Technology Lab Private Ltd purchased a new position in Bausch Health Cos during the first quarter valued at approximately $68,000. Jones Financial Companies Lllp lifted its holdings in Bausch Health Cos by 1,548.9% during the first quarter. Jones Financial Companies Lllp now owns 24,965 shares of the company’s stock worth $162,000 after buying an additional 23,451 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Bausch Health Cos by 97.1% during the first quarter. Goldman Sachs Group Inc. now owns 948,322 shares of the company’s stock worth $6,136,000 after buying an additional 467,270 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Bausch Health Cos by 3.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,847 shares of the company’s stock worth $2,102,000 after buying an additional 9,834 shares during the period. Finally, Geode Capital Management LLC boosted its position in Bausch Health Cos by 11.2% during the 2nd quarter. Geode Capital Management LLC now owns 840,418 shares of the company’s stock valued at $5,597,000 after acquiring an additional 84,892 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors.

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 transaction, the director directly owned 49,339 shares of the company’s stock, valued at $267,910.77. This represents a 33.14% decrease in their position. The sale was disclosed in a 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 owned by corporate insiders.

Bausch Health Cos Trading Up 1.6%

NYSE:BHC opened at $4.86 on Tuesday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -1.50 and a beta of 0.42. Bausch Health Cos Inc. has a 52 week low of $4.57 and a 52 week high of $8.69. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 54.68. The firm has a 50 day moving average of $5.15 and a 200 day moving average of $5.70.

Bausch Health Cos (NYSE:BHC) last released its quarterly 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). The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%. As a group, sell-side analysts anticipate that Bausch Health Cos Inc. will post 4.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BHC shares. Weiss Ratings downgraded Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Royal Bank Of Canada dropped their price objective on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Bausch Health Cos presently has an average rating of “Reduce” and a consensus price target of $8.00.

Bausch Health Cos Company 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.