Bausch Health Cos Inc. (NYSE:BHC – Get Free Report)’s share price was up 3.4% on Wednesday. The company traded as high as $6.20 and last traded at $6.2250. 274,113 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,503,807 shares. The stock had previously closed at $6.02.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on BHC shares. Weiss Ratings raised Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Zacks Research upgraded shares of Bausch Health Cos from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 21st. Jefferies Financial Group raised Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.00.
Read Our Latest Analysis on BHC
Bausch Health Cos Trading Up 3.6%
Bausch Health Cos (NYSE:BHC – Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.30. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. On average, analysts predict that Bausch Health Cos Inc. will post 4.35 earnings per share for the current year.
Insider Activity
In other news, insider Aimee Lenar sold 36,827 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total value of $258,893.81. Following the sale, the insider owned 334,853 shares in the company, valued at $2,354,016.59. This represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Roxbury Financial LLC purchased a new position in shares of Bausch Health Cos during the 3rd quarter valued at approximately $28,000. Engineers Gate Manager LP boosted its holdings in Bausch Health Cos by 149.6% during the second quarter. Engineers Gate Manager LP now owns 249,991 shares of the company’s stock worth $1,232,000 after buying an additional 149,820 shares in the last quarter. Amundi grew its position in Bausch Health Cos by 39.9% during the second quarter. Amundi now owns 33,546 shares of the company’s stock valued at $165,000 after buying an additional 9,563 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Bausch Health Cos in the second quarter worth about $2,565,000. Finally, Bank of America Corp DE purchased a new stake in shares of Bausch Health Cos during the 2nd quarter worth about $2,816,000. 78.65% of the stock is owned by institutional investors and hedge funds.
Bausch Health Cos Company Profile
Bausch Health Companies Inc is a multinational specialty pharmaceutical company headquartered in Laval, Quebec. The company develops, manufactures and markets prescription medicines, branded and generic pharmaceuticals, over-the-counter products and medical devices across a range of therapeutic areas.
Its business includes Salix Pharmaceuticals, which focuses on gastrointestinal treatments; Ortho Dermatologics, which develops prescription therapies for dermatological conditions; and Solta Medical, which provides energy-based medical and aesthetic devices.
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