Public Employees Retirement System of Ohio Purchases 227,466 Shares of Bausch Health Cos Inc. $BHC

Public Employees Retirement System of Ohio raised its position in shares of Bausch Health Cos Inc. (NYSE:BHC) by 112.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,208 shares of the company’s stock after acquiring an additional 227,466 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.11% of Bausch Health Cos worth $2,312,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Caption Management LLC increased its position in Bausch Health Cos by 101.1% in the 4th quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after buying an additional 405,789 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Bausch Health Cos by 12,589.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock worth $34,000 after purchasing an additional 4,910 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Bausch Health Cos by 6,661.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock valued at $35,000 after buying an additional 5,329 shares during the last quarter. Russell Investments Group Ltd. grew its position in Bausch Health Cos by 65.9% during the second quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock worth $51,000 after buying 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 valued at approximately $59,000. Institutional investors own 78.65% of the company’s stock.

Wall Street Analyst Weigh In

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

Bausch Health Cos Trading Up 14.4%

Shares of Bausch Health Cos stock opened at $6.90 on Friday. The stock has a market capitalization of $2.58 billion, a P/E ratio of -2.33 and a beta of 0.42. Bausch Health Cos Inc. has a 12-month low of $4.33 and a 12-month 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 company has a 50-day simple moving average of $4.99 and a 200 day simple moving average of $5.47.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.30. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations 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%. Research analysts expect that Bausch Health Cos Inc. will post 4.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Frank D. Lee sold 24,456 shares of the 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 sale, the director directly owned 49,339 shares in the company, valued at $267,910.77. This represents a 33.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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.