Short Interest in Bausch Health Companies Inc. (NYSE:BHC) Declines By 5.4%

Bausch Health Companies Inc. (NYSE:BHC) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 22,500,000 shares, a decrease of 5.4% from the March 15th total of 23,780,000 shares. Based on an average daily volume of 2,640,000 shares, the short-interest ratio is currently 8.5 days. Currently, 6.3% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BHC shares. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $12.00 price objective on shares of Bausch Health Companies in a research note on Friday. Finally, Jefferies Financial Group decreased their target price on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th.

Bausch Health Companies Stock Performance

NYSE:BHC opened at $8.64 on Tuesday. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -5.33 and a beta of 0.85. Bausch Health Companies has a one year low of $5.57 and a one year high of $11.46. The business’s 50-day simple moving average is $9.25 and its 200 day simple moving average is $8.14.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BHC. Principal Securities Inc. acquired a new stake in shares of Bausch Health Companies in the 4th quarter valued at about $31,000. Salem Investment Counselors Inc. bought a new stake in Bausch Health Companies in the first quarter valued at about $32,000. Lazard Asset Management LLC acquired a new stake in Bausch Health Companies during the second quarter valued at approximately $49,000. Tower Research Capital LLC TRC lifted its holdings in Bausch Health Companies by 283.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after buying an additional 5,112 shares during the last quarter. Finally, Bfsg LLC acquired a new position in shares of Bausch Health Companies in the 4th quarter worth approximately $63,000. 78.65% of the stock is currently owned by institutional investors.

Bausch Health Companies Company Profile

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.