Bausch Health Companies (NYSE:BHC) Shares Up 6.5% – What’s Next?

Bausch Health Companies Inc. (NYSE:BHC) shares rose 6.5% during mid-day trading on Tuesday . The stock traded as high as $7.61 and last traded at $7.64. 482,356 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 3,298,743 shares. The stock had previously closed at $7.17.

Wall Street Analyst Weigh In

BHC has been the topic of several recent research reports. Royal Bank of Canada dropped their price objective on shares of Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $8.00 price objective (down from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Bausch Health Companies has a consensus rating of “Hold” and an average target price of $7.42.

Bausch Health Companies Trading Up 4.7 %

The stock has a market cap of $2.76 billion, a PE ratio of -62.79, a P/E/G ratio of 0.37 and a beta of 0.68. The business has a fifty day simple moving average of $7.34 and a two-hundred day simple moving average of $7.52.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.44). Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. On average, research analysts predict that Bausch Health Companies Inc. will post 4.41 earnings per share for the current year.

Institutional Trading of Bausch Health Companies

A number of hedge funds have recently bought and sold shares of the company. LMR Partners LLP purchased a new stake in shares of Bausch Health Companies during the 3rd quarter valued at about $3,264,000. Intact Investment Management Inc. bought a new stake in Bausch Health Companies during the third quarter valued at approximately $1,543,000. XTX Topco Ltd bought a new position in Bausch Health Companies in the third quarter worth approximately $938,000. SG Americas Securities LLC boosted its stake in shares of Bausch Health Companies by 62.0% during the 4th quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company’s stock worth $26,614,000 after acquiring an additional 1,263,706 shares during the last quarter. Finally, Range Financial Group LLC purchased a new position in shares of Bausch Health Companies during the 4th quarter worth $1,004,000. Hedge funds and other 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.