Bausch Health Cos (NYSE:BHC) Shares Up 7.5% – What’s Next?

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

Analysts Set New Price Targets

Several research firms have recently weighed in on BHC. Royal Bank Of Canada decreased their price target on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Weiss Ratings lowered Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bausch Health Cos presently has an average rating of “Reduce” and an average price target of $8.00.

Bausch Health Cos Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 54.68. The company’s 50-day moving average is $5.34 and its two-hundred day moving average is $5.86. The company has a market capitalization of $1.79 billion, a P/E ratio of -1.48 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 analysts’ consensus estimates of $0.81 by ($0.03). Bausch Health Cos had a negative net margin of 11.47% and a negative return on equity of 2,922.77%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Equities analysts anticipate that Bausch Health Cos Inc. will post 4.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of Bausch Health Cos stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total transaction 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. The trade was a 33.14% decrease in their position. The transaction 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. Company insiders own 20.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Caption Management LLC raised its position in Bausch Health Cos by 101.1% during the fourth quarter. Caption Management LLC now owns 4,464 shares of the company’s stock valued at $31,000 after purchasing an additional 405,789 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Bausch Health Cos by 12,589.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock worth $34,000 after purchasing an additional 4,910 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bausch Health Cos by 6,661.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock worth $35,000 after purchasing an additional 5,329 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Bausch Health Cos by 65.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after purchasing an additional 3,106 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new position in shares of Bausch Health Cos during the 4th quarter valued at about $59,000. 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.