Bausch Health Cos (NYSE:BHC) Shares Up 3.4% – Here’s What Happened

by · The Markets Daily

Bausch Health Cos Inc. (NYSE:BHC – Get Free Report) was up 3.4% on Wednesday. The company traded as high as $6.20 and last traded at $6.2250. Approximately 274,113 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,503,807 shares. The stock had previously closed at $6.02.

Analyst Ratings Changes

Several brokerages have commented on BHC. Zacks Research raised Bausch Health Cos from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Jefferies Financial Group raised shares of Bausch Health Cos to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

Get Our Latest Research Report on Bausch Health Cos

Bausch Health Cos Trading Up 3.6%

The company has a fifty day moving average of $6.19 and a 200-day moving average of $5.54. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -2.11 and a beta of 0.37.

Bausch Health Cos (NYSE:BHC – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.30. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%. As a group, equities research analysts expect that Bausch Health Cos Inc. will post 4.35 EPS for the current year.

Insider Transactions at Bausch Health Cos

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

Hedge Funds Weigh In On Bausch Health Cos

Institutional investors and hedge funds have recently bought and sold shares of the business. Roxbury Financial LLC purchased a new stake in Bausch Health Cos during the 3rd quarter valued at about $28,000. Engineers Gate Manager LP boosted its holdings in shares of Bausch Health Cos by 149.6% during the 2nd quarter. Engineers Gate Manager LP now owns 249,991 shares of the company’s stock worth $1,232,000 after purchasing an additional 149,820 shares during the last quarter. Amundi grew its position in shares of Bausch Health Cos by 39.9% in the second quarter. Amundi now owns 33,546 shares of the company’s stock valued at $165,000 after purchasing an additional 9,563 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Bausch Health Cos in the second quarter valued at approximately $2,565,000. Finally, Bank of America Corp DE acquired a new stake in shares of Bausch Health Cos in the second quarter valued at approximately $2,816,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

About Bausch Health Cos

(Get Free Report)

Bausch Health Companies Inc is a multinational specialty pharmaceutical company headquartered in Laval, Quebec. The company develops, manufactures and markets prescription medicines, branded and generic pharmaceuticals, over-the-counter products and medical devices across a range of therapeutic areas.

Its business includes Salix Pharmaceuticals, which focuses on gastrointestinal treatments; Ortho Dermatologics, which develops prescription therapies for dermatological conditions; and Solta Medical, which provides energy-based medical and aesthetic devices.

See Also