Bausch Health Companies (NYSE:BHC) Trading Down 2.8% – What’s Next?

Shares of Bausch Health Companies Inc. (NYSE:BHC) were down 2.8% during mid-day trading on Friday . The company traded as low as $8.10 and last traded at $8.13. Approximately 247,945 shares changed hands 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 Ratings Changes

BHC has been the subject of several research analyst reports. Evercore ISI raised Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. StockNews.com lowered shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a research report on Thursday. Truist Financial cut their target price on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Scotiabank decreased their price target on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Finally, Jefferies Financial Group cut their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bausch Health Companies presently has an average rating of “Hold” and an average price target of $7.33.

Bausch Health Companies Price Performance

The stock’s 50-day simple moving average is $7.01 and its two-hundred day simple moving average is $7.15. The firm has a market capitalization of $2.95 billion, a P/E ratio of -6.58 and a beta of 0.77.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.09. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.33 billion. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. During the same quarter in the prior year, the firm posted $0.81 EPS. On average, analysts forecast that Bausch Health Companies Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity at Bausch Health Companies

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the completion of the transaction, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BHC. Salem Investment Counselors Inc. bought a new position in Bausch Health Companies during the first quarter valued at approximately $32,000. Headlands Technologies LLC bought a new position in shares of Bausch Health Companies during the 2nd quarter valued at approximately $35,000. MQS Management LLC purchased a new position in shares of Bausch Health Companies in the second quarter valued at $71,000. Certuity LLC bought a new stake in Bausch Health Companies in the second quarter worth $75,000. Finally, Bfsg LLC raised its stake in Bausch Health Companies by 46.7% during 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 in the last quarter. 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.