Bausch Health Cos (NYSE:BHC) Hits New 1-Year Low – Here’s Why

Shares of Bausch Health Cos Inc. (NYSE:BHC) hit a new 52-week low during trading on Tuesday . The stock traded as low as $4.35 and last traded at $4.4540, with a volume of 572901 shares changing hands. The stock had previously closed at $4.68.

Wall Street Analyst Weigh In

Several equities analysts have commented on BHC shares. Weiss Ratings downgraded shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Royal Bank Of Canada reduced their price objective on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Four 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, the stock has an average rating of “Reduce” and an average price target of $8.00.

Bausch Health Cos Price Performance

The stock has a fifty day simple moving average of $5.04 and a 200-day simple moving average of $5.58. The company has a market capitalization of $1.71 billion, a PE ratio of -1.41 and a beta of 0.42. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Bausch Health Cos had a negative net margin of 11.47% and a negative return on equity of 2,922.77%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Equities analysts anticipate that Bausch Health Cos Inc. will post 4.05 earnings per share for the current year.

Insider Buying and Selling

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total value of $132,796.08. Following the transaction, the director directly owned 49,339 shares in the company, valued at $267,910.77. This represents a 33.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Bausch Health Cos during the 1st quarter worth $68,000. Jones Financial Companies Lllp grew its holdings in shares of Bausch Health Cos by 1,548.9% during the first quarter. Jones Financial Companies Lllp now owns 24,965 shares of the company’s stock worth $162,000 after purchasing an additional 23,451 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Bausch Health Cos by 97.1% during the first quarter. Goldman Sachs Group Inc. now owns 948,322 shares of the company’s stock worth $6,136,000 after purchasing an additional 467,270 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Bausch Health Cos by 3.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,847 shares of the company’s stock worth $2,102,000 after purchasing an additional 9,834 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Bausch Health Cos by 11.2% during the second quarter. Geode Capital Management LLC now owns 840,418 shares of the company’s stock worth $5,597,000 after purchasing an additional 84,892 shares in the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

About Bausch Health Cos

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.