Bausch Health Cos (NYSE:BHC) Shares Up 5.1% – Should You Buy?

Bausch Health Cos Inc. (NYSE:BHC) shares traded up 5.1% on Tuesday . The company traded as high as $6.93 and last traded at $6.9150. Approximately 970,639 shares were traded during trading, a decline of 62% from the average daily volume of 2,524,552 shares. The stock had previously closed at $6.58.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BHC. Zacks Research cut shares of Bausch Health Cos from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada lowered their target price on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Wall Street Zen raised shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $8.00.

Bausch Health Cos Trading Up 5.7%

The company has a debt-to-equity ratio of 54.68, a current ratio of 1.44 and a quick ratio of 1.08. The stock’s 50-day moving average price is $5.23 and its 200 day moving average price is $5.43. The firm has a market capitalization of $2.60 billion, a PE ratio of -2.35 and a beta of 0.38.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.30. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. On average, sell-side analysts expect that Bausch Health Cos Inc. will post 4.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tacita Capital Inc acquired a new stake in shares of Bausch Health Cos in the second quarter valued at about $29,000. Caption Management LLC boosted its position in shares of Bausch Health Cos by 101.1% during 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 lifted its stake in Bausch Health Cos by 12,589.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock worth $34,000 after acquiring an additional 4,910 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Bausch Health Cos by 6,661.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock worth $35,000 after buying an additional 5,329 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in 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 in the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

Bausch Health Cos Company Profile

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.