Gamco Investors INC. ET AL Cuts Stock Holdings in Bausch Health Cos Inc. $BHC

Gamco Investors INC. ET AL reduced its position in Bausch Health Cos Inc. (NYSE:BHC) by 14.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 748,743 shares of the company’s stock after selling 125,709 shares during the period. Gamco Investors INC. ET AL owned about 0.20% of Bausch Health Cos worth $4,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in BHC. Caption Management LLC raised its position in shares of Bausch Health Cos by 101.1% in the fourth quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after acquiring an additional 405,789 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Bausch Health Cos by 12,589.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock valued at $34,000 after acquiring an additional 4,910 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Bausch Health Cos by 6,661.2% in 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. Russell Investments Group Ltd. increased its stake in shares of Bausch Health Cos by 65.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after purchasing an additional 3,106 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new position in Bausch Health Cos in the 4th quarter worth about $59,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of Bausch Health Cos stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the sale, the director directly owned 49,339 shares of the company’s stock, valued at $267,910.77. The trade was a 33.14% decrease in their ownership of the stock. The sale was disclosed in a legal 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 currently owned by company insiders.

Bausch Health Cos Stock Up 1.2%

BHC opened at $4.49 on Tuesday. The company has a market cap of $1.68 billion, a PE ratio of -1.38 and a beta of 0.42. Bausch Health Cos Inc. has a twelve month low of $4.33 and a twelve month high of $8.69. The company has a 50-day moving average price of $4.98 and a 200 day moving average price of $5.52. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings data 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 firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.37 billion. Sell-side analysts expect that Bausch Health Cos Inc. will post 4.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BHC. Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada reduced 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 lowered Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price 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.