Bausch Health Cos (NYSE:BHC) Stock Price Up 7.5% – Here’s Why

Bausch Health Cos Inc. (NYSE:BHC) shares were up 7.5% on Thursday . The company traded as high as $5.35 and last traded at $5.3650. 1,096,371 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 2,000,207 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BHC shares. Barclays decreased their price target on shares of Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Royal Bank Of Canada decreased their target price on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Finally, Weiss Ratings cut shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Bausch Health Cos currently has an average rating of “Reduce” and a consensus price target of $8.00.

Bausch Health Cos Stock Up 6.9%

The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -1.65 and a beta of 0.40. The firm’s fifty day simple moving average is $5.37 and its 200 day simple moving average is $5.88.

Bausch Health Cos (NYSE:BHC) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.37 billion. Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%. Sell-side analysts predict that Bausch Health Cos Inc. will post 4.08 earnings per share for the current year.

Insider Activity at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the sale, the director directly owned 49,339 shares of the company’s stock, valued at approximately $267,910.77. The trade was a 33.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 20.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BHC. Vanguard Group Inc. grew its position in Bausch Health Cos by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,241,072 shares of the company’s stock valued at $78,808,000 after buying an additional 470,968 shares during the last quarter. Goldentree Asset Management LP raised its position in Bausch Health Cos by 1.7% during the 3rd quarter. Goldentree Asset Management LP now owns 34,833,431 shares of the company’s stock worth $224,409,000 after buying an additional 578,542 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Bausch Health Cos in the 4th quarter worth $3,651,000. Cinctive Capital Management LP purchased a new stake in shares of Bausch Health Cos in the third quarter valued at about $697,000. Finally, Private Management Group Inc. increased its stake in shares of Bausch Health Cos by 13.6% during the third quarter. Private Management Group Inc. now owns 1,621,725 shares of the company’s stock worth $10,460,000 after acquiring an additional 194,158 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.

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.