Bausch Health Cos (NYSE:BHC) Shares Up 8.2% – Still a Buy?

Bausch Health Cos Inc. (NYSE:BHC)’s stock price was up 8.2% during trading on Friday . The stock traded as high as $6.50 and last traded at $6.5260. 2,813,097 shares were traded during mid-day trading, an increase of 27% from the average session volume of 2,223,536 shares. The stock had previously closed at $6.03.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BHC shares. Royal Bank Of Canada lowered their price objective on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Jefferies Financial Group raised Bausch Health Cos to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings cut Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Finally, Zacks Research cut shares of Bausch Health Cos from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $8.00.

Bausch Health Cos Price Performance

The business’s 50-day simple moving average is $4.96 and its 200 day simple moving average is $5.46. The company has a market capitalization of $2.49 billion, a P/E ratio of -2.24 and a beta of 0.42. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.30. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 1,389.97%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.59 billion. As a group, sell-side analysts anticipate that Bausch Health Cos Inc. will post 4.05 EPS for the current year.

Insider Buying and Selling

In other news, Director Frank D. Lee sold 24,456 shares of Bausch Health Cos stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total value of $132,796.08. Following the transaction, the director directly owned 49,339 shares of the company’s stock, valued at $267,910.77. This trade represents a 33.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company’s stock.

Hedge Funds Weigh In On Bausch Health Cos

Several institutional investors and hedge funds have recently bought and sold shares of the business. Caption Management LLC lifted its position in Bausch Health Cos by 101.1% in the 4th quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after buying an additional 405,789 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Bausch Health Cos by 12,589.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock valued at $34,000 after acquiring an additional 4,910 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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. Russell Investments Group Ltd. grew its holdings in Bausch Health Cos by 65.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after buying an additional 3,106 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in Bausch Health Cos in the 4th quarter worth $59,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

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.