Bausch Health Companies (NYSE:BHC) Shares Gap Up to $6.32

Bausch Health Companies Inc. (NYSE:BHC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $6.32, but opened at $6.79. Bausch Health Companies shares last traded at $6.66, with a volume of 1,281,875 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BHC shares. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Jefferies Financial Group cut their price objective on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Truist Financial lowered their price target on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. Royal Bank of Canada reduced their price objective on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Finally, Raymond James assumed coverage on shares of Bausch Health Companies in a research report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Bausch Health Companies currently has a consensus rating of “Hold” and an average target price of $7.33.

Bausch Health Companies Price Performance

The company’s 50-day simple moving average is $6.24 and its 200-day simple moving average is $7.38. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -5.47 and a beta of 0.75.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.09. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.33 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. During the same period last year, the firm earned $0.81 earnings per share. Equities analysts predict that Bausch Health Companies Inc. will post 3.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the sale, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 8.12% of the company’s stock.

Institutional Trading of Bausch Health Companies

A number of large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Bausch Health Companies in the fourth quarter worth about $31,121,000. Hillsdale Investment Management Inc. boosted its holdings in shares of Bausch Health Companies by 1,050.8% in the first quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock valued at $36,135,000 after acquiring an additional 3,113,123 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Bausch Health Companies by 3,080.9% during the first quarter. SG Americas Securities LLC now owns 2,200,526 shares of the company’s stock valued at $23,348,000 after acquiring an additional 2,131,347 shares during the period. Crestline Management LP bought a new stake in Bausch Health Companies during the fourth quarter worth approximately $16,040,000. Finally, Mackenzie Financial Corp lifted its position in Bausch Health Companies by 111.0% in the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after purchasing an additional 1,252,834 shares during the period. Institutional investors and hedge funds own 78.65% of the company’s stock.

About Bausch Health Companies

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.