Bausch Health Companies (NYSE:BHC) Trading Down 7.2%

Bausch Health Companies Inc. (NYSE:BHC)’s stock price traded down 7.2% during trading on Thursday . The company traded as low as $7.87 and last traded at $8.12. 1,233,683 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 2,741,848 shares. The stock had previously closed at $8.75.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada cut their price objective on Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 23rd. Piper Sandler raised their price objective on Bausch Health Companies from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Monday. Jefferies Financial Group lowered their target price on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Finally, StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.33.

Bausch Health Companies Stock Performance

The firm has a market cap of $2.93 billion, a P/E ratio of -4.95 and a beta of 0.90. The firm has a fifty day moving average of $9.32 and a 200-day moving average of $8.21.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The company 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 firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. Equities research analysts expect that Bausch Health Companies Inc. will post 4.03 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in shares of Bausch Health Companies during the fourth quarter valued at approximately $31,000. Salem Investment Counselors Inc. bought a new stake in Bausch Health Companies during the 1st quarter valued at $32,000. Tower Research Capital LLC TRC boosted its position in Bausch Health Companies by 283.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after acquiring an additional 5,112 shares during the period. Bfsg LLC bought a new position in shares of Bausch Health Companies in the fourth quarter worth $63,000. Finally, Ausdal Financial Partners Inc. bought a new position in shares of Bausch Health Companies in the third quarter worth $86,000. Institutional investors own 78.65% of the company’s stock.

About Bausch Health Companies

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.