Bausch Health Companies (NYSE:BHC) Shares Gap Up – What’s Next?

Shares of Bausch Health Companies Inc. (NYSE:BHC) gapped up before the market opened on Thursday . The stock had previously closed at $6.51, but opened at $6.96. Bausch Health Companies shares last traded at $7.47, with a volume of 1,572,807 shares.

Analyst Ratings Changes

A number of analysts recently weighed in on BHC shares. Royal Bank of Canada lowered their price target on shares of Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $8.00 price target (down previously from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.42.

Bausch Health Companies Trading Up 11.4 %

The company has a market cap of $2.62 billion, a price-to-earnings ratio of -15.17, a P/E/G ratio of 0.33 and a beta of 0.68. The stock has a 50 day moving average price of $7.37 and a two-hundred day moving average price of $7.47.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.44). Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. On average, equities analysts forecast that Bausch Health Companies Inc. will post 3.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BHC. Public Employees Retirement System of Ohio bought a new position in shares of Bausch Health Companies during the fourth quarter worth $927,000. Alpine Global Management LLC bought a new position in Bausch Health Companies during the fourth quarter worth about $114,000. Vestal Point Capital LP acquired a new position in Bausch Health Companies in the fourth quarter valued at about $2,015,000. Virtus Investment Advisers Inc. bought a new stake in shares of Bausch Health Companies in the fourth quarter worth about $747,000. Finally, Two Sigma Advisers LP raised its position in shares of Bausch Health Companies by 283.5% during the fourth quarter. Two Sigma Advisers LP now owns 307,600 shares of the company’s stock worth $2,479,000 after purchasing an additional 227,400 shares during the period. Institutional investors and hedge funds own 78.65% of the company’s stock.

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.