Bausch Health Cos (NYSE:BHC) Sees Unusually-High Trading Volume – Here’s What Happened

Bausch Health Cos Inc. (NYSE:BHC) saw unusually-strong trading volume on Monday . 3,484,778 shares changed hands during mid-day trading, an increase of 36% from the previous session’s volume of 2,564,270 shares.The stock last traded at $5.9110 and had previously closed at $5.86.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Bausch Health Cos from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Finally, Jefferies Financial Group raised shares of Bausch Health Cos to a “hold” rating in a report on Wednesday, July 22nd. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Bausch Health Cos currently has a consensus rating of “Reduce” and a consensus target price of $8.00.

Bausch Health Cos Price Performance

The stock has a market cap of $2.12 billion, a P/E ratio of -1.91 and a beta of 0.37. The firm has a 50-day moving average price of $5.87 and a 200-day moving average price of $5.51. The company has a debt-to-equity ratio of 54.68, a quick ratio of 1.08 and a current ratio of 1.44.

Bausch Health Cos (NYSE:BHC) last announced its earnings results on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, beating 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 firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.59 billion. On average, analysts forecast that Bausch Health Cos Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Aimee Lenar sold 36,827 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total value of $258,893.81. Following the sale, the insider owned 334,853 shares in the company, valued at $2,354,016.59. This represents a 9.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 20.67% of the company’s stock.

Hedge Funds Weigh In On Bausch Health Cos

Institutional investors and hedge funds have recently modified their holdings of the stock. Paulson & CO. Inc. bought a new stake in Bausch Health Cos during the 2nd quarter valued at about $361,151,000. Royal Bank of Canada lifted its holdings in shares of Bausch Health Cos by 24.9% during the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock valued at $61,362,000 after purchasing an additional 2,262,894 shares in the last quarter. MFN Partners Management LP bought a new stake in Bausch Health Cos in the 2nd quarter worth about $29,580,000. Norges Bank purchased a new position in Bausch Health Cos in the 4th quarter worth about $25,592,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Bausch Health Cos by 10.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,604,818 shares of the company’s stock valued at $19,456,000 after acquiring an additional 350,823 shares during the last quarter. 78.65% of the stock is currently owned by institutional investors.

About Bausch Health Cos

Bausch Health Companies Inc is a multinational specialty pharmaceutical company headquartered in Laval, Quebec. The company develops, manufactures and markets prescription medicines, over-the-counter products and medical devices, with a focus on gastroenterology, neurology, dermatology and other specialty therapeutic areas.

Its portfolio includes gastrointestinal treatments such as Xifaxan, Trulance and Relistor, as well as products for conditions affecting the central nervous system and skin.