Bausch Health Cos (NYSE:BHC) Hits New 52-Week Low – What’s Next?

Shares of Bausch Health Cos Inc. (NYSE:BHC – Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $4.92 and last traded at $4.9350, with a volume of 740066 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BHC shares. Weiss Ratings lowered shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Royal Bank Of Canada decreased their price target on shares of 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. Finally, Barclays decreased their price target on shares of Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.00.

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Bausch Health Cos Stock Performance

The company’s 50 day moving average price is $5.45 and its 200-day moving average price is $5.98. The company has a debt-to-equity ratio of 54.68, a quick ratio of 0.97 and a current ratio of 1.32. The company has a market cap of $1.85 billion, a PE ratio of -1.52 and a beta of 0.40.

Bausch Health Cos (NYSE:BHC – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%.The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Equities research analysts anticipate that Bausch Health Cos Inc. will post 4.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frank D. Lee sold 24,456 shares of Bausch Health Cos stock in a transaction that occurred on 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 transaction, the director directly owned 49,339 shares in the company, valued at approximately $267,910.77. The trade was a 33.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Bausch Health Cos by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,241,072 shares of the company’s stock valued at $78,808,000 after purchasing an additional 470,968 shares in the last quarter. Goldentree Asset Management LP grew its position in shares of Bausch Health Cos by 1.7% during the 3rd quarter. Goldentree Asset Management LP now owns 34,833,431 shares of the company’s stock valued at $224,409,000 after purchasing an additional 578,542 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Bausch Health Cos during the 4th quarter valued at $3,651,000. Cinctive Capital Management LP purchased a new position in shares of Bausch Health Cos during the 3rd quarter valued at $697,000. Finally, Private Management Group Inc. grew its position in shares of Bausch Health Cos by 13.6% during the 3rd quarter. Private Management Group Inc. now owns 1,621,725 shares of the company’s stock valued at $10,460,000 after purchasing an additional 194,158 shares in the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Cos

(Get Free Report)

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.

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