Bausch Health Cos (NYSE:BHC) Shares Up 4.8% – Here’s What Happened

Bausch Health Cos Inc. (NYSE:BHC) rose 4.8% on Tuesday . The stock traded as high as $6.74 and last traded at $6.6780. 478,732 shares were traded during trading, a decline of 81% from the average daily volume of 2,540,489 shares. The stock had previously closed at $6.37.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings raised Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Zacks Research raised shares of Bausch Health Cos from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Jefferies Financial Group upgraded 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. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $8.00.

Bausch Health Cos Stock Performance

The stock has a market capitalization of $2.56 billion, a PE ratio of -2.31 and a beta of 0.37. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.44 and a quick ratio of 1.08. The business’s fifty day moving average price is $5.63 and its 200-day moving average price is $5.50.

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

Insider Activity

In related news, insider Aimee J. Lenar sold 36,827 shares of Bausch Health Cos stock in a transaction on Wednesday, August 19th. The stock was 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 approximately $2,354,016.59. This trade 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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 20.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BHC. Amundi increased its holdings in shares of Bausch Health Cos by 39.9% in the 2nd quarter. Amundi now owns 33,546 shares of the company’s stock worth $165,000 after buying an additional 9,563 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Bausch Health Cos in the second quarter valued at approximately $2,565,000. Bank of America Corp DE purchased a new stake in Bausch Health Cos during the 2nd quarter valued at $2,816,000. Paulson & CO. Inc. purchased a new stake in shares of Bausch Health Cos during the second quarter worth about $361,151,000. Finally, Man Group plc bought a new stake in shares of Bausch Health Cos in the 2nd quarter worth approximately $7,157,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Cos Company Profile

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.