Bausch Health Companies Target of Unusually Large Options Trading (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 33,871 call options on the stock. This represents an increase of approximately 133% compared to the average daily volume of 14,506 call options.

Bausch Health Companies Stock Down 1.6 %

Shares of NYSE:BHC opened at $10.04 on Thursday. Bausch Health Companies has a 52 week low of $5.57 and a 52 week high of $11.46. The company has a 50-day moving average price of $9.04 and a 200 day moving average price of $8.08. The company has a market cap of $3.67 billion, a P/E ratio of -6.20 and a beta of 0.85.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.29 billion. Bausch Health Companies had a positive return on equity of 5,147.48% and a negative net margin of 6.76%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. Analysts expect that Bausch Health Companies will post 3.95 EPS for the current year.

Hedge Funds Weigh In On Bausch Health Companies

A number of institutional investors and hedge funds have recently made changes to their positions in BHC. Principal Securities Inc. purchased a new stake in Bausch Health Companies during the fourth quarter worth about $31,000. Lazard Asset Management LLC purchased a new stake in shares of Bausch Health Companies during the 2nd quarter worth approximately $49,000. Tower Research Capital LLC TRC grew its holdings in shares of Bausch Health Companies by 283.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after acquiring an additional 5,112 shares during the period. Bfsg LLC purchased a new position in Bausch Health Companies in the 4th quarter valued at approximately $63,000. Finally, Graham Capital Management L.P. acquired a new position in Bausch Health Companies during the second quarter worth $84,000. 78.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BHC shares. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Jefferies Financial Group lowered their price target on Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Finally, Royal Bank of Canada upped their price objective on Bausch Health Companies from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd.

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.