Bausch Health Cos (NYSE:BHC) Sees Large Volume Increase – Here’s Why

Bausch Health Cos Inc. (NYSE:BHC) shares saw unusually-high trading volume on Friday . 6,961,410 shares were traded during trading, an increase of 244% from the previous session’s volume of 2,025,402 shares.The stock last traded at $5.3950 and had previously closed at $5.28.

Analysts Set New Price Targets

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

Bausch Health Cos Stock Down 9.4%

The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68. The business has a fifty day simple moving average of $5.34 and a two-hundred day simple moving average of $5.86. The company has a market cap of $1.79 billion, a PE ratio of -1.48 and a beta of 0.40.

Bausch Health Cos (NYSE:BHC) last released its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%. As a group, equities research analysts predict that Bausch Health Cos Inc. will post 4.05 earnings per share for the current year.

Insider Transactions at Bausch Health Cos

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the sale, the director owned 49,339 shares in the company, valued at approximately $267,910.77. This represents a 33.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Bausch Health Cos in the fourth quarter valued at approximately $25,592,000. MUFG Securities EMEA plc purchased a new stake in Bausch Health Cos in the 2nd quarter valued at $22,644,000. Paulson & CO. Inc. grew its holdings in Bausch Health Cos by 3.5% in the 4th quarter. Paulson & CO. Inc. now owns 73,255,869 shares of the company’s stock valued at $509,128,000 after buying an additional 2,500,000 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Bausch Health Cos by 24.9% in the 1st quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock worth $61,362,000 after acquiring an additional 2,262,894 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Bausch Health Cos by 65.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,143,641 shares of the company’s stock worth $35,748,000 after acquiring an additional 2,038,813 shares during the last quarter. 78.65% of the stock is currently owned by institutional investors and hedge funds.

About Bausch Health Cos

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.