Bausch Health Cos (NYSE:BHC) Trading 4.8% Higher – Time to Buy?

Bausch Health Cos Inc. (NYSE:BHC) shares rose 4.8% during trading 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 session volume of 2,540,489 shares. The stock had previously closed at $6.37.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BHC. Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Zacks Research raised Bausch Health Cos from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Jefferies Financial Group raised shares of Bausch Health Cos to a “hold” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Bausch Health Cos currently has a consensus rating of “Reduce” and an average price target of $8.00.

Bausch Health Cos Trading Up 3.1%

The company has a quick ratio of 1.08, a current ratio of 1.44 and a debt-to-equity ratio of 54.68. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -2.22 and a beta of 0.38. The business has a 50 day moving average of $5.56 and a 200 day moving average of $5.49.

Bausch Health Cos (NYSE:BHC) last released its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share 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 firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. On average, research analysts forecast that Bausch Health Cos Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Aimee J. Lenar sold 36,827 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following the completion of the sale, the insider directly owned 334,853 shares in the company, valued at approximately $2,354,016.59. The trade was a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company’s stock.

Institutional Trading of Bausch Health Cos

Several institutional investors have recently made changes to their positions in BHC. Tacita Capital Inc acquired a new position in Bausch Health Cos in the second quarter valued at $29,000. Caption Management LLC raised its holdings in shares of Bausch Health Cos by 101.1% in the 4th quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after purchasing an additional 405,789 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Bausch Health Cos by 12,589.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock worth $34,000 after purchasing an additional 4,910 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Bausch Health Cos by 6,661.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock valued at $35,000 after purchasing an additional 5,329 shares in the last quarter. Finally, Russell Investments Group Ltd. grew 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 worth $51,000 after purchasing an additional 3,106 shares during the period. 78.65% of the stock is owned by hedge funds and other 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.