Healthcare of Ontario Pension Plan Trust Fund Sells 452,119 Shares of Bausch Health Cos Inc. $BHC

Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Bausch Health Cos Inc. (NYSE:BHC) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,000,000 shares of the company’s stock after selling 452,119 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Bausch Health Cos were worth $43,200,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in Bausch Health Cos in the first quarter valued at $68,000. Jones Financial Companies Lllp grew its holdings in Bausch Health Cos by 1,548.9% during the 1st quarter. Jones Financial Companies Lllp now owns 24,965 shares of the company’s stock worth $162,000 after acquiring an additional 23,451 shares during the period. Goldman Sachs Group Inc. grew its holdings in Bausch Health Cos by 97.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 948,322 shares of the company’s stock worth $6,136,000 after acquiring an additional 467,270 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Bausch Health Cos by 3.1% during the 1st 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 acquiring an additional 9,834 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Bausch Health Cos by 11.2% in the 2nd quarter. Geode Capital Management LLC now owns 840,418 shares of the company’s stock worth $5,597,000 after acquiring an additional 84,892 shares in the last quarter. Institutional investors own 78.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BHC. Jefferies Financial Group raised Bausch Health Cos to a “hold” rating in a research note on Wednesday. Royal Bank Of Canada decreased their target price on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Bausch Health Cos presently has a consensus rating of “Reduce” and an average price target of $8.00.

Insider Buying and Selling

In related news, Director Frank D. Lee sold 24,456 shares of the company’s stock in a transaction that occurred on 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 approximately $267,910.77. This represents a 33.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by insiders.

Bausch Health Cos Stock Down 0.6%

Shares of NYSE BHC opened at $4.42 on Friday. 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 market cap of $1.66 billion, a PE ratio of -1.37 and a beta of 0.42. The company’s fifty day simple moving average is $5.00 and its 200 day simple moving average is $5.55. Bausch Health Cos Inc. has a 12-month low of $4.33 and a 12-month high of $8.69.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.37 billion. As a group, sell-side analysts forecast that Bausch Health Cos Inc. will post 4.05 earnings per share for the current fiscal year.

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.