Bausch Health Cos (NYSE:BHC) Trading Down 4.1% – What’s Next?

Bausch Health Cos Inc. (NYSE:BHC)’s stock price dropped 4.1% during mid-day trading on Monday . The stock traded as low as $6.53 and last traded at $6.6050. Approximately 3,066,074 shares changed hands during trading, an increase of 29% from the average session volume of 2,373,392 shares. The stock had previously closed at $6.89.

Analysts Set New Price Targets

BHC has been the subject of several recent analyst reports. Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday. Zacks Research cut Bausch Health Cos from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Royal Bank Of Canada decreased their target price on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Wall Street Zen upgraded Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Jefferies Financial Group upgraded shares of Bausch Health Cos to a “hold” rating in a report on Wednesday, July 22nd. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.00.

Bausch Health Cos Stock Performance

The stock has a 50-day simple moving average of $4.99 and a 200-day simple moving average of $5.46. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -2.34 and a beta of 0.42. The company has a current ratio of 1.44, a quick ratio of 1.08 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.30. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.59 billion. On average, analysts anticipate that Bausch Health Cos Inc. will post 4.05 earnings per share for the current year.

Insider Transactions at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the sale, the director directly owned 49,339 shares of the company’s stock, valued at approximately $267,910.77. This represents a 33.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bausch Health Cos

Several institutional investors have recently bought and sold shares of BHC. Norges Bank acquired a new stake in Bausch Health Cos during the 4th quarter worth approximately $25,592,000. MUFG Securities EMEA plc bought a new stake in shares of Bausch Health Cos in the second quarter valued at about $22,644,000. Paulson & CO. Inc. grew its stake in shares of Bausch Health Cos by 3.5% in the fourth quarter. Paulson & CO. Inc. now owns 73,255,869 shares of the company’s stock valued at $509,128,000 after acquiring an additional 2,500,000 shares in the last quarter. Royal Bank of Canada raised its stake in Bausch Health Cos by 24.9% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Bausch Health Cos by 65.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,143,641 shares of the company’s stock valued at $35,748,000 after purchasing an additional 2,038,813 shares during the period. Institutional investors own 78.65% of the company’s stock.

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.