Bausch Health Companies (NYSE:BHC) Sees Large Volume Increase

Shares of Bausch Health Companies Inc. (NYSE:BHC) saw strong trading volume on Wednesday . 5,875,547 shares traded hands during mid-day trading, an increase of 111% from the previous session’s volume of 2,785,882 shares.The stock last traded at $6.08 and had previously closed at $7.57.

Analyst Ratings Changes

Several analysts recently commented on the company. Piper Sandler upped their target price on Bausch Health Companies from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Monday, April 29th. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Thursday, July 18th. Truist Financial cut their price target on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday. Raymond James began coverage on Bausch Health Companies in a report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 price target on the stock. Finally, Royal Bank of Canada cut their price target on Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bausch Health Companies has a consensus rating of “Hold” and a consensus price target of $9.80.

Bausch Health Companies Trading Up 1.2 %

The business has a fifty day simple moving average of $6.74 and a 200-day simple moving average of $8.03.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Thursday, May 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.16). Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, sell-side analysts anticipate that Bausch Health Companies Inc. will post 3.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bausch Health Companies

Large investors have recently modified their holdings of the company. Readystate Asset Management LP bought a new position in shares of Bausch Health Companies in the 4th quarter worth $2,933,000. Inspire Investing LLC purchased a new stake in Bausch Health Companies in the 1st quarter valued at $935,000. Norges Bank purchased a new stake in Bausch Health Companies in the 4th quarter valued at $31,121,000. Vanguard Group Inc. raised its position in Bausch Health Companies by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 11,487,768 shares of the company’s stock valued at $94,429,000 after buying an additional 175,489 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Bausch Health Companies by 362.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 296,260 shares of the company’s stock valued at $2,378,000 after buying an additional 232,160 shares during the last quarter. 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.