Bausch Health Companies (NYSE:BHC) Shares Gap Up on Insider Buying Activity

Bausch Health Companies Inc. (NYSE:BHC) shares gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $5.51, but opened at $5.81. Bausch Health Companies shares last traded at $5.77, with a volume of 732,068 shares trading hands.

Specifically, Director John Paulson purchased 1,005,376 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were acquired at an average cost of $5.47 per share, for a total transaction of $5,499,406.72. Following the transaction, the director now owns 29,227,643 shares of the company’s stock, valued at $159,875,207.21. This trade represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Paulson bought 1,029,098 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was bought at an average cost of $5.24 per share, for a total transaction of $5,392,473.52. Following the completion of the transaction, the director now directly owns 28,222,267 shares of the company’s stock, valued at $147,884,679.08. This trade represents a 3.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, Director John Paulson bought 754,134 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were purchased at an average cost of $5.05 per share, with a total value of $3,808,376.70. Following the completion of the transaction, the director now directly owns 27,193,169 shares of the company’s stock, valued at approximately $137,325,503.45. This represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Bausch Health Companies from $8.50 to $10.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.42.

Bausch Health Companies Price Performance

The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -50.12, a price-to-earnings-growth ratio of 0.37 and a beta of 0.28. The business has a fifty day moving average price of $4.85 and a 200 day moving average price of $6.43.

Hedge Funds Weigh In On Bausch Health Companies

Several hedge funds have recently modified their holdings of the company. Toronto Dominion Bank increased its position in shares of Bausch Health Companies by 1.0% during the 4th quarter. Toronto Dominion Bank now owns 167,212 shares of the company’s stock valued at $1,350,000 after purchasing an additional 1,712 shares during the period. Wells Fargo & Company MN grew its holdings in Bausch Health Companies by 7.9% during the fourth quarter. Wells Fargo & Company MN now owns 25,907 shares of the company’s stock worth $209,000 after acquiring an additional 1,896 shares during the period. American Century Companies Inc. grew its holdings in Bausch Health Companies by 10.6% during the fourth quarter. American Century Companies Inc. now owns 27,236 shares of the company’s stock worth $220,000 after acquiring an additional 2,600 shares during the period. Blair William & Co. IL grew its stake in shares of Bausch Health Companies by 3.2% in the 4th quarter. Blair William & Co. IL now owns 84,707 shares of the company’s stock worth $683,000 after purchasing an additional 2,622 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of Bausch Health Companies by 244.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company’s stock worth $27,000 after purchasing an additional 3,001 shares during the last quarter. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Companies Company Profile

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.