Bausch Health Cos (NYSE:BHC) Stock Price Up 7.5% – Here’s What Happened

Shares of Bausch Health Cos Inc. (NYSE:BHC) traded up 7.5% during mid-day trading on Thursday . The company traded as high as $5.35 and last traded at $5.3650. Approximately 1,096,371 shares traded hands during trading, a decline of 45% from the average daily volume of 2,000,207 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

BHC has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Barclays lowered their price target on shares of Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada reduced their price objective on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.00.

Bausch Health Cos Trading Up 6.9%

The company has a debt-to-equity ratio of 54.68, a quick ratio of 0.97 and a current ratio of 1.32. The business has a fifty day simple moving average of $5.37 and a 200 day simple moving average of $5.88. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -1.65 and a beta of 0.40.

Bausch Health Cos (NYSE:BHC) last announced its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.03). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.37 billion. Bausch Health Cos had a negative net margin of 11.47% and a negative return on equity of 2,922.77%. As a group, equities analysts anticipate that Bausch Health Cos Inc. will post 4.08 EPS for the current year.

Insider Buying and Selling

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the sale, the director directly owned 49,339 shares of the company’s stock, valued at approximately $267,910.77. This trade represents a 33.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 20.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Bausch Health Cos in the fourth quarter worth approximately $25,592,000. MUFG Securities EMEA plc purchased a new position in shares of Bausch Health Cos in the 2nd quarter worth $22,644,000. Paulson & CO. Inc. lifted its stake in shares of Bausch Health Cos by 3.5% in the 4th quarter. Paulson & CO. Inc. now owns 73,255,869 shares of the company’s stock valued at $509,128,000 after purchasing an additional 2,500,000 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Bausch Health Cos by 24.9% during the 1st quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock worth $61,362,000 after purchasing an additional 2,262,894 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Bausch Health Cos by 65.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,143,641 shares of the company’s stock worth $35,748,000 after purchasing an additional 2,038,813 shares in the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Bausch Health Cos Company Profile

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.