Bausch Health Cos Inc. (NYSE:BHC) Sees Significant Decrease in Short Interest

Bausch Health Cos Inc. (NYSE:BHC) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 4,835,516 shares, a decrease of 24.6% from the December 15th total of 6,413,854 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 2,176,462 shares, the short-interest ratio is presently 2.2 days. Based on an average daily volume of 2,176,462 shares, the short-interest ratio is presently 2.2 days. Approximately 1.6% of the company’s shares are short sold.

Bausch Health Cos Stock Down 3.9%

Shares of NYSE BHC traded down $0.28 during trading on Friday, reaching $6.98. The company had a trading volume of 1,532,928 shares, compared to its average volume of 1,931,314. The stock has a market cap of $2.59 billion, a PE ratio of 7.20 and a beta of 0.37. The business’s 50-day moving average is $6.90 and its 200 day moving average is $6.77. Bausch Health Cos has a 12-month low of $4.25 and a 12-month high of $8.69. The company has a quick ratio of 0.97, a current ratio of 1.30 and a debt-to-equity ratio of 57.48.

Hedge Funds Weigh In On Bausch Health Cos

A number of hedge funds have recently added to or reduced their stakes in BHC. Paulson & CO. Inc. lifted its position in Bausch Health Cos by 24.0% in the 2nd quarter. Paulson & CO. Inc. now owns 32,791,702 shares of the company’s stock valued at $218,393,000 after acquiring an additional 6,352,667 shares in the last quarter. Goldentree Asset Management LP lifted its holdings in shares of Bausch Health Cos by 13.2% during the second quarter. Goldentree Asset Management LP now owns 34,254,889 shares of the company’s stock valued at $227,848,000 after purchasing an additional 4,004,889 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Bausch Health Cos during the second quarter valued at $22,644,000. SG Americas Securities LLC increased its holdings in Bausch Health Cos by 114.4% in the 2nd quarter. SG Americas Securities LLC now owns 6,152,986 shares of the company’s stock worth $40,979,000 after buying an additional 3,282,684 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. raised its position in Bausch Health Cos by 14.9% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 7,808,487 shares of the company’s stock worth $52,005,000 after buying an additional 1,010,987 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Bausch Health Cos in a research note on Monday, December 29th. Raymond James Financial upgraded shares of Bausch Health Cos to a “hold” rating in a report on Monday, December 15th. Wall Street Zen lowered shares of Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a report on Saturday. Truist Financial raised their target price on shares of Bausch Health Cos from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, January 7th. Finally, Barclays assumed coverage on shares of Bausch Health Cos in a research report on Monday, December 8th. They set an “equal weight” rating and a $8.00 price target on the stock. Six investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.50.

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.