Bausch Health Companies (NYSE:BHC) Trading Down 5.2% – Here’s Why

Bausch Health Companies Inc. (NYSE:BHC)’s share price dropped 5.2% during trading on Monday . The company traded as low as $7.01 and last traded at $7.05. Approximately 488,195 shares were traded during trading, a decline of 85% from the average daily volume of 3,154,331 shares. The stock had previously closed at $7.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BHC shares. Royal Bank of Canada cut their target price on Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Thursday. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.58.

Bausch Health Companies Stock Performance

The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -15.03 and a beta of 0.69. The business has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $7.46.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in Bausch Health Companies by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company’s stock worth $1,719,000 after buying an additional 4,944 shares during the last quarter. Creative Planning boosted its stake in shares of Bausch Health Companies by 16.9% during the 3rd quarter. Creative Planning now owns 55,351 shares of the company’s stock worth $452,000 after acquiring an additional 7,995 shares during the period. International Assets Investment Management LLC bought a new stake in Bausch Health Companies in the 3rd quarter valued at $1,910,000. Van ECK Associates Corp lifted its holdings in Bausch Health Companies by 13.5% during the 3rd quarter. Van ECK Associates Corp now owns 343,268 shares of the company’s stock valued at $2,770,000 after purchasing an additional 40,797 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new position in Bausch Health Companies during the third quarter worth $1,543,000. 78.65% of the stock is currently owned by institutional investors.

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.