Bausch Health Companies (NYSE:BHC) Shares Up 7%

Bausch Health Companies Inc (NYSE:BHC)’s share price shot up 7% during mid-day trading on Friday . The company traded as high as $21.01 and last traded at $20.62, 5,215,870 shares changed hands during trading. An increase of 38% from the average session volume of 3,766,246 shares. The stock had previously closed at $19.28.

A number of brokerages have issued reports on BHC. HC Wainwright increased their price objective on shares of Bausch Health Companies from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Guggenheim started coverage on shares of Bausch Health Companies in a report on Thursday, September 12th. They issued a “buy” rating and a $30.00 target price for the company. Wells Fargo & Co reissued a “sell” rating on shares of Bausch Health Companies in a report on Tuesday, September 17th. Mizuho set a $45.00 target price on shares of Bausch Health Companies and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, TD Securities raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $29.68.

The stock has a market cap of $6.78 billion, a P/E ratio of 4.53 and a beta of 0.85. The company has a debt-to-equity ratio of 8.94, a current ratio of 1.21 and a quick ratio of 0.92. The business’s fifty day moving average price is $21.49 and its 200 day moving average price is $23.10.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Tuesday, August 6th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Bausch Health Companies had a positive return on equity of 52.12% and a negative net margin of 10.88%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. On average, analysts predict that Bausch Health Companies Inc will post 4.15 earnings per share for the current fiscal year.

In other Bausch Health Companies news, CEO Joseph C. Papa acquired 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $23.31 per share, for a total transaction of $699,300.00. Also, insider Mark C. Mckenna sold 10,773 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $21.83, for a total transaction of $235,174.59. Following the completion of the transaction, the insider now owns 20,756 shares of the company’s stock, valued at approximately $453,103.48. The disclosure for this sale can be found here. 11.87% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Investors Research Corp raised its holdings in Bausch Health Companies by 85.7% in the 2nd quarter. Investors Research Corp now owns 1,300 shares of the company’s stock valued at $33,000 after buying an additional 600 shares during the last quarter. Cullinan Associates Inc. raised its holdings in Bausch Health Companies by 1.5% in the 2nd quarter. Cullinan Associates Inc. now owns 47,033 shares of the company’s stock valued at $1,186,000 after buying an additional 700 shares during the last quarter. Pictet Asset Management Ltd. raised its holdings in Bausch Health Companies by 0.6% in the 2nd quarter. Pictet Asset Management Ltd. now owns 115,664 shares of the company’s stock valued at $2,924,000 after buying an additional 700 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management raised its holdings in Bausch Health Companies by 1.5% in the 2nd quarter. B & T Capital Management DBA Alpha Capital Management now owns 56,292 shares of the company’s stock valued at $1,420,000 after buying an additional 834 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Bausch Health Companies by 41.8% in the 2nd quarter. Captrust Financial Advisors now owns 2,835 shares of the company’s stock valued at $71,000 after buying an additional 835 shares during the last quarter. Institutional investors and hedge funds own 56.01% of the company’s stock.

About Bausch Health Companies (NYSE:BHC)

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.

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