Bausch Health Cos (NYSE:BHC) Sees Unusually-High Trading Volume – Should You Buy?
by Sarita Garza · The Markets DailyBausch Health Cos Inc. (NYSE:BHC – Get Free Report) shares saw strong trading volume on Monday . 3,484,778 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 2,564,270 shares.The stock last traded at $5.9110 and had previously closed at $5.86.
Analyst Ratings Changes
A number of research firms have weighed in on BHC. Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a research note on Wednesday, July 22nd. Zacks Research upgraded Bausch Health Cos from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Weiss Ratings raised Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Finally, Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Bausch Health Cos presently has an average rating of “Reduce” and an average target price of $8.00.
View Our Latest Report on Bausch Health Cos
Bausch Health Cos Stock Performance
The company has a market cap of $2.25 billion, a PE ratio of -2.03 and a beta of 0.37. The firm’s fifty day moving average is $5.83 and its 200 day moving average is $5.51. The company has a current ratio of 1.44, a quick ratio of 1.08 and a debt-to-equity ratio of 54.68.
Bausch Health Cos (NYSE:BHC – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. As a group, research analysts predict that Bausch Health Cos Inc. will post 4.35 EPS for the current fiscal year.
Insider Buying and Selling at Bausch Health Cos
In related news, insider Aimee Lenar sold 36,827 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through 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.
Hedge Funds Weigh In On Bausch Health Cos
A number of hedge funds have recently made changes to their positions in BHC. Paulson & CO. Inc. purchased a new stake in shares of Bausch Health Cos during the second quarter worth approximately $361,151,000. Dimensional Fund Advisors LP lifted its holdings in 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 valued at $19,456,000 after purchasing an additional 350,823 shares in the last quarter. MFN Partners Management LP purchased a new position in Bausch Health Cos in the 2nd quarter valued at $29,580,000. Royal Bank of Canada boosted its stake in Bausch Health Cos by 24.9% during the 1st 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. Finally, Hillsdale Investment Management Inc. acquired a new stake in Bausch Health Cos during the 4th quarter worth $3,651,000. Institutional investors and hedge funds own 78.65% of the company’s stock.
About Bausch Health Cos
Bausch Health Companies Inc is a multinational specialty pharmaceutical company headquartered in Laval, Quebec. The company develops, manufactures and markets prescription medicines, over-the-counter products and medical devices, with a focus on gastroenterology, neurology, dermatology and other specialty therapeutic areas.
Its portfolio includes gastrointestinal treatments such as Xifaxan, Trulance and Relistor, as well as products for conditions affecting the central nervous system and skin.