Bausch Health Companies (NYSE:BHC) Shares Down 2.9% – Here’s What Happened

Bausch Health Companies Inc. (NYSE:BHC)’s share price was down 2.9% during mid-day trading on Monday . The company traded as low as $5.72 and last traded at $5.81. Approximately 705,733 shares traded hands during trading, a decline of 73% from the average daily volume of 2,604,550 shares. The stock had previously closed at $5.98.

Analyst Upgrades and Downgrades

BHC has been the topic of a number of research reports. Wall Street Zen lowered shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a research note on Saturday, May 10th. Royal Bank of Canada increased their price objective on shares of Bausch Health Companies from $8.50 to $10.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.42.

Bausch Health Companies Stock Down 0.4%

The company has a market cap of $2.20 billion, a price-to-earnings ratio of -49.62, a price-to-earnings-growth ratio of 0.37 and a beta of 0.28. The company’s 50-day moving average is $4.85 and its 200 day moving average is $6.41.

Insider Activity at Bausch Health Companies

In related news, Director John Paulson acquired 1,029,098 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were acquired at an average cost of $5.24 per share, with a total value of $5,392,473.52. Following the completion of the acquisition, the director now directly owns 28,222,267 shares in the company, valued at approximately $147,884,679.08. This trade represents a 3.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have bought 2,788,608 shares of company stock worth $14,700,257. 8.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bausch Health Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cary Street Partners Financial LLC purchased a new position in Bausch Health Companies during the first quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Bausch Health Companies in the first quarter worth about $27,000. SBI Securities Co. Ltd. lifted its stake in shares of Bausch Health Companies by 244.2% in the first quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company’s stock worth $27,000 after buying an additional 3,001 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of Bausch Health Companies in the fourth quarter worth about $56,000. Finally, Wealthquest Corp purchased a new position in shares of Bausch Health Companies in the first quarter worth about $58,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

About Bausch Health Companies

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.