Royal Bank of Canada Has $61.36 Million Holdings in Bausch Health Cos Inc. $BHC

Royal Bank of Canada boosted its stake in Bausch Health Cos Inc. (NYSE:BHC) by 24.9% in the first quarter, HoldingsChannel.com reports. The firm owned 11,363,498 shares of the company’s stock after buying an additional 2,262,894 shares during the period. Royal Bank of Canada’s holdings in Bausch Health Cos were worth $61,362,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Tidal Investments LLC lifted its holdings in Bausch Health Cos by 2.6% during the 2nd quarter. Tidal Investments LLC now owns 50,131 shares of the company’s stock worth $334,000 after buying an additional 1,276 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Bausch Health Cos by 14.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 14,067 shares of the company’s stock valued at $98,000 after buying an additional 1,812 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Bausch Health Cos by 4.1% in the first quarter. Pictet Asset Management Holding SA now owns 54,169 shares of the company’s stock valued at $292,000 after buying an additional 2,114 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Bausch Health Cos by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock worth $690,000 after acquiring an additional 2,552 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Bausch Health Cos by 65.9% in the second quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock worth $51,000 after acquiring an additional 3,106 shares during the period. 78.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Frank D. Lee sold 24,456 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total transaction of $132,796.08. Following the transaction, the director owned 49,339 shares in the company, valued at approximately $267,910.77. This represents a 33.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 20.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BHC. Royal Bank Of Canada decreased their target price on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Zacks Research cut shares of Bausch Health Cos from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Wall Street Zen raised shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Jefferies Financial Group raised shares of Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings raised Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Bausch Health Cos currently has a consensus rating of “Reduce” and a consensus target price of $8.00.

Bausch Health Cos Stock Performance

Shares of BHC stock opened at $6.90 on Friday. The firm has a 50 day moving average of $4.99 and a 200-day moving average of $5.47. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -2.33 and a beta of 0.42. 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 Inc. has a 52 week low of $4.33 and a 52 week high of $8.69.

Bausch Health Cos (NYSE:BHC) last released its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.30. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 1,389.97%. On average, equities analysts forecast that Bausch Health Cos Inc. will post 4.05 earnings per share for the current 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.