The Manufacturers Life Insurance Company Invests $1.17 Million in Bausch Health Cos Inc. $BHC

The Manufacturers Life Insurance Company purchased a new stake in shares of Bausch Health Cos Inc. (NYSE:BHC) during the second quarter, Holdings Channel.com reports. The fund purchased 237,211 shares of the company’s stock, valued at approximately $1,167,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Bausch Health Cos by 10.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,604,818 shares of the company’s stock worth $19,456,000 after buying an additional 350,823 shares during the last quarter. MFN Partners Management LP bought a new stake in Bausch Health Cos during the second quarter worth $29,580,000. Royal Bank of Canada boosted its position in Bausch Health Cos by 24.9% in the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock worth $61,362,000 after purchasing an additional 2,262,894 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Bausch Health Cos in the 4th quarter valued at $3,651,000. Finally, Renaissance Technologies LLC increased its position in shares of Bausch Health Cos by 10.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,575,772 shares of the company’s stock valued at $8,509,000 after purchasing an additional 143,581 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Aimee Lenar sold 36,827 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following the completion of the transaction, the insider directly owned 334,853 shares of the company’s stock, valued at approximately $2,354,016.59. This trade represents a 9.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 20.67% of the company’s stock.

Bausch Health Cos Price Performance

NYSE BHC opened at $6.54 on Friday. The company has a market cap of $2.45 billion, a PE ratio of -2.21 and a beta of 0.37. Bausch Health Cos Inc. has a 52 week low of $4.33 and a 52 week high of $8.00. The company has a quick ratio of 1.08, a current ratio of 1.44 and a debt-to-equity ratio of 54.68. The firm’s 50-day simple moving average is $5.70 and its two-hundred day simple moving average is $5.51.

Bausch Health Cos (NYSE:BHC) last posted its earnings results 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. 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 during the quarter, compared to the consensus estimate of $2.59 billion. Research analysts predict that Bausch Health Cos Inc. will post 4.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BHC. Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Jefferies Financial Group raised shares of Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Zacks Research upgraded shares of Bausch Health Cos from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bausch Health Cos currently has an average rating of “Reduce” and an average target price 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.