Bausch Health Companies (NYSE:BHC) Trading Down 6%

Bausch Health Companies Inc. (NYSE:BHC)’s stock price fell 6% on Monday . The stock traded as low as $9.36 and last traded at $9.79. 1,127,484 shares were traded during trading, a decline of 55% from the average session volume of 2,489,659 shares. The stock had previously closed at $10.41.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BHC. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Royal Bank of Canada upped their target price on Bausch Health Companies from $9.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Jefferies Financial Group reduced their target price on Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th.

Bausch Health Companies Stock Performance

The stock has a market capitalization of $3.68 billion, a P/E ratio of -5.99 and a beta of 0.85. The business has a fifty day simple moving average of $9.12 and a 200-day simple moving average of $8.11.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Bausch Health Companies had a positive return on equity of 5,147.48% and a negative net margin of 6.76%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 EPS. On average, sell-side analysts anticipate that Bausch Health Companies Inc. will post 3.95 earnings per share for the current year.

Hedge Funds Weigh In On Bausch Health Companies

Large investors have recently modified their holdings of the company. Principal Securities Inc. bought a new position in shares of Bausch Health Companies in the 4th quarter worth $31,000. Lazard Asset Management LLC bought a new position in shares of Bausch Health Companies in the 2nd quarter worth $49,000. Tower Research Capital LLC TRC lifted its holdings in shares of Bausch Health Companies by 283.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after purchasing an additional 5,112 shares in the last quarter. Bfsg LLC bought a new position in Bausch Health Companies during the 4th quarter valued at $63,000. Finally, Graham Capital Management L.P. bought a new position in Bausch Health Companies during the 2nd quarter valued at $84,000. 78.65% of the stock is currently owned by institutional investors.

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.