Bausch Health Cos (NYSE:BHC) Stock Price Down 4.7% – What’s Next?

Bausch Health Cos Inc. (NYSE:BHC)’s share price was down 4.7% during mid-day trading on Friday . The stock traded as low as $6.30 and last traded at $6.3090. Approximately 761,382 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 2,539,900 shares. The stock had previously closed at $6.62.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bausch Health Cos in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.00.

Bausch Health Cos Trading Down 5.5%

The stock’s fifty day simple moving average is $6.59 and its 200 day simple moving average is $6.22. The firm has a market capitalization of $2.32 billion, a PE ratio of 24.10 and a beta of 0.47. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 141.90.

Institutional Trading of Bausch Health Cos

A number of hedge funds and other institutional investors have recently bought and sold shares of BHC. Two Sigma Investments LP raised its holdings in Bausch Health Cos by 237.0% during the third quarter. Two Sigma Investments LP now owns 652,626 shares of the company’s stock valued at $4,209,000 after acquiring an additional 458,997 shares during the period. Private Management Group Inc. grew its position in shares of Bausch Health Cos by 13.6% during the third quarter. Private Management Group Inc. now owns 1,621,725 shares of the company’s stock worth $10,460,000 after purchasing an additional 194,158 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Bausch Health Cos during the third quarter worth about $310,000. Dynamic Technology Lab Private Ltd bought a new stake in Bausch Health Cos during the 3rd quarter valued at approximately $271,000. Finally, Handelsbanken Fonder AB lifted its holdings in Bausch Health Cos by 17.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 60,300 shares of the company’s stock worth $389,000 after purchasing an additional 8,800 shares in the last quarter. Hedge funds and other institutional investors own 78.65% of the company’s stock.

About Bausch Health Cos

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.