Bausch Health Cos (NYSE:BHC) Stock Price Down 4.1% – Time to Sell?

Bausch Health Cos Inc. (NYSE:BHC)’s share price dropped 4.1% during mid-day trading on Monday . The company traded as low as $6.53 and last traded at $6.6050. 3,066,074 shares traded hands during trading, an increase of 29% from the average daily volume of 2,373,392 shares. The stock had previously closed at $6.89.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BHC. Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday. Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Zacks Research lowered shares of Bausch Health Cos from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada reduced their price objective on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $8.00.

Bausch Health Cos Trading Down 7.5%

The stock’s 50-day moving average price is $5.04 and its 200 day moving average price is $5.45. 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 firm has a market capitalization of $2.42 billion, a PE ratio of -2.19 and a beta of 0.38.

Bausch Health Cos (NYSE:BHC) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.96 by $0.30. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%.The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. On average, sell-side analysts expect that Bausch Health Cos Inc. will post 4.05 EPS for the current fiscal year.

Insider Activity at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of the company’s 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 completion of the sale, the director owned 49,339 shares of the company’s stock, valued at approximately $267,910.77. This represents a 33.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BHC. Caption Management LLC raised its holdings in Bausch Health Cos by 101.1% in the fourth quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after purchasing an additional 405,789 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Bausch Health Cos by 12,589.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock valued at $34,000 after acquiring an additional 4,910 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Bausch Health Cos by 6,661.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock worth $35,000 after purchasing an additional 5,329 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Bausch Health Cos by 65.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after purchasing an additional 3,106 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in shares of Bausch Health Cos in the 4th quarter worth $59,000. 78.65% of the stock is owned by institutional investors.

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.