MFN Partners Management LP Buys New Stake in Bausch Health Cos Inc. $BHC

MFN Partners Management LP bought a new stake in shares of Bausch Health Cos Inc. (NYSE:BHC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,000,000 shares of the company’s stock, valued at approximately $29,580,000. Bausch Health Cos makes up approximately 0.0% of MFN Partners Management LP’s holdings, making the stock its 6th largest holding. MFN Partners Management LP owned 1.60% of Bausch Health Cos at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Bausch Health Cos in the second quarter valued at $190,000. Tacita Capital Inc purchased a new stake in Bausch Health Cos during the second quarter valued at about $29,000. BlackRock Inc. bought a new position in Bausch Health Cos in the second quarter worth $663,000. Alberta Investment Management Corp bought a new position in shares of Bausch Health Cos during the 2nd quarter valued at $348,000. Finally, Bank of New York Mellon Corp purchased a new stake in Bausch Health Cos in the 2nd quarter worth $195,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Cos Trading Up 0.6%

Bausch Health Cos stock traded up $0.04 during mid-day trading on Friday, reaching $6.34. 701,417 shares of the company traded hands, compared to its average volume of 2,549,696. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -2.14 and a beta of 0.38. The firm’s 50 day moving average price is $5.50 and its 200 day moving average price is $5.49. Bausch Health Cos Inc. has a 52-week low of $4.33 and a 52-week high of $8.00. 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 (NYSE:BHC) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.30. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.59 billion. On average, analysts anticipate that Bausch Health Cos Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Bausch Health Cos

In other Bausch Health Cos news, insider Aimee J. Lenar sold 36,827 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total transaction of $258,893.81. Following the completion of the sale, the insider directly owned 334,853 shares in the company, valued at approximately $2,354,016.59. This trade represents a 9.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Zacks Research raised shares of Bausch Health Cos from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Wall Street Zen upgraded Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a research note on Wednesday, July 22nd. Six research 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.com, the company presently has an average rating of “Reduce” and an average price target of $8.00.

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.