Bausch Health Companies (NYSE:BHC) Trading Down 2.8% – Here’s Why

Bausch Health Companies Inc. (NYSE:BHC) shares dropped 2.8% during trading on Friday . The stock traded as low as $8.10 and last traded at $8.13. Approximately 247,945 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 2,982,303 shares. The stock had previously closed at $8.36.

Analyst Upgrades and Downgrades

BHC has been the subject of a number of recent research reports. StockNews.com downgraded Bausch Health Companies from a “buy” rating to a “hold” rating in a research report on Thursday. Scotiabank dropped their price target on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Piper Sandler downgraded shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $9.00 to $3.00 in a report on Friday, August 2nd. Raymond James assumed coverage on Bausch Health Companies in a report on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 target price for the company. Finally, Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Bausch Health Companies currently has an average rating of “Hold” and an average price target of $7.33.

Bausch Health Companies Stock Down 2.5 %

The company has a fifty day moving average of $6.96 and a 200 day moving average of $7.16. The company has a market cap of $2.94 billion, a P/E ratio of -6.75 and a beta of 0.77.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.09. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. During the same quarter last year, the business posted $0.81 EPS. As a group, research analysts forecast that Bausch Health Companies Inc. will post 3.61 EPS for the current year.

Insider Buying and Selling at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the sale, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at $2,702,579.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.12% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BHC. Salem Investment Counselors Inc. purchased a new position in Bausch Health Companies in the 1st quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new stake in shares of Bausch Health Companies in the second quarter valued at approximately $35,000. MQS Management LLC acquired a new position in shares of Bausch Health Companies during the 2nd quarter worth $71,000. Certuity LLC purchased a new stake in shares of Bausch Health Companies during the 2nd quarter worth approximately $75,000. Finally, Bfsg LLC grew its holdings in Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after purchasing an additional 3,643 shares during the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.

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.