Bausch Health Companies (NYSE:BHC) Sees Strong Trading Volume

Bausch Health Companies Inc. (NYSE:BHC) shares saw unusually-high trading volume on Wednesday . Approximately 1,049,967 shares traded hands during trading, a decline of 66% from the previous session’s volume of 3,096,620 shares.The stock last traded at $7.55 and had previously closed at $7.18.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BHC shares. StockNews.com lowered shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. Raymond James assumed coverage on Bausch Health Companies in a research report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 price target on the stock. Jefferies Financial Group dropped their target price on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Piper Sandler cut shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $9.00 to $3.00 in a report on Friday, August 2nd. Finally, Truist Financial dropped their price objective on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Bausch Health Companies presently has an average rating of “Hold” and an average price target of $7.33.

Bausch Health Companies Price Performance

The business’s 50-day moving average is $6.24 and its two-hundred day moving average is $7.35. The firm has a market cap of $2.81 billion, a P/E ratio of -6.03 and a beta of 0.75.

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

Insider Transactions at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the transaction, the executive vice president now directly owns 435,198 shares in the company, valued at approximately $2,702,579.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.12% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Companies

A number of large investors have recently added to or reduced their stakes in BHC. Inspire Investing LLC acquired a new position in shares of Bausch Health Companies in the first quarter valued at approximately $935,000. Norges Bank bought a new stake in Bausch Health Companies in the 4th quarter valued at $31,121,000. Vanguard Group Inc. grew its holdings in Bausch Health Companies by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 11,599,131 shares of the company’s stock valued at $93,025,000 after buying an additional 111,363 shares in the last quarter. Blair William & Co. IL increased its position in Bausch Health Companies by 5.0% during the 1st quarter. Blair William & Co. IL now owns 84,245 shares of the company’s stock worth $894,000 after buying an additional 4,000 shares during the period. Finally, Prudential PLC acquired a new stake in shares of Bausch Health Companies during the fourth quarter worth $735,000. Institutional investors own 78.65% of the company’s stock.

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.