Bausch Health Companies (NYSE:BHC) Stock Price Up 12% – Should You Buy?

Shares of Bausch Health Companies Inc. (NYSE:BHC) were up 12% during mid-day trading on Thursday . The company traded as high as $5.03 and last traded at $5.04. Approximately 2,339,027 shares changed hands during trading, a decline of 13% from the average daily volume of 2,682,946 shares. The stock had previously closed at $4.50.

Analysts Set New Price Targets

A number of analysts have recently commented on BHC shares. Jefferies Financial Group restated a “hold” rating and issued a $8.00 price objective (down from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. Royal Bank of Canada cut their target price on shares of Bausch Health Companies from $9.00 to $8.50 and set a “sector perform” rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.17.

Bausch Health Companies Stock Up 13.0 %

The business’s 50-day simple moving average is $6.39 and its two-hundred day simple moving average is $7.46. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -42.20, a PEG ratio of 0.37 and a beta of 0.43.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.44). Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Sell-side analysts anticipate that Bausch Health Companies Inc. will post 4.41 earnings per share for the current year.

Hedge Funds Weigh In On Bausch Health Companies

Institutional investors have recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new position in shares of Bausch Health Companies in the fourth quarter valued at approximately $56,000. Bank of Nova Scotia acquired a new stake in Bausch Health Companies during the 4th quarter worth approximately $83,000. One68 Global Capital LLC purchased a new position in Bausch Health Companies in the 4th quarter valued at approximately $90,000. Balyasny Asset Management L.P. acquired a new position in shares of Bausch Health Companies in the fourth quarter worth $97,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Bausch Health Companies during the fourth quarter worth $114,000. 78.65% of the stock is owned by institutional investors and hedge funds.

Bausch Health Companies Company Profile

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.