Insider Selling: Bausch Health Companies Inc. (NYSE:BHC) EVP Sells $83,027.70 in Stock

Bausch Health Companies Inc. (NYSE:BHC) EVP Seana Carson sold 13,370 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the transaction, the executive vice president now owns 435,198 shares in the company, valued at approximately $2,702,579.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bausch Health Companies Stock Performance

Shares of NYSE:BHC opened at $6.39 on Thursday. The firm has a market capitalization of $2.31 billion, a P/E ratio of -5.15 and a beta of 0.75. The stock has a 50 day moving average price of $6.28 and a 200-day moving average price of $7.43. Bausch Health Companies Inc. has a 52-week low of $3.96 and a 52-week high of $11.46.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. On average, equities analysts forecast that Bausch Health Companies Inc. will post 3.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BHC. Clearline Capital LP bought a new position in shares of Bausch Health Companies during the second quarter valued at approximately $6,881,000. Mackenzie Financial Corp grew its stake in shares of Bausch Health Companies by 111.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after buying an additional 1,252,834 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Bausch Health Companies by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company’s stock valued at $1,719,000 after buying an additional 4,944 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Bausch Health Companies during the second quarter valued at $1,606,000. Finally, MQS Management LLC bought a new stake in Bausch Health Companies in the second quarter worth $71,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BHC. Royal Bank of Canada cut their price target on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Scotiabank reduced their price target on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group dropped their price objective on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Raymond James initiated coverage on Bausch Health Companies in a research note on Wednesday, July 10th. They set a “market perform” rating and a $8.00 target price on the stock. Finally, Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.33.

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.