Bausch Health Cos (NYSE:BHC) Reaches New 1-Year Low – Here’s What Happened

Bausch Health Cos Inc. (NYSE:BHC) shares reached 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 changing hands. The stock had previously closed at $4.99.

Analyst Ratings Changes

Several research firms recently weighed in on BHC. Royal Bank Of Canada reduced 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 report on Monday, April 27th. Weiss Ratings cut Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Finally, Barclays decreased their target price on Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 25th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $8.00.

Bausch Health Cos Price Performance

The stock’s 50-day moving average price is $5.43 and its 200 day moving average price is $5.96. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 54.68. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -1.46 and a beta of 0.40.

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

Insider Buying and Selling at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the sale, the director directly owned 49,339 shares in the company, valued at $267,910.77. This represents a 33.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bausch Health Cos

A number of institutional investors have recently added to or reduced their stakes in the stock. Caption Management LLC grew its holdings in Bausch Health Cos by 101.1% in the 4th quarter. Caption Management LLC now owns 4,464 shares of the company’s stock valued at $31,000 after buying an additional 405,789 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Bausch Health Cos by 12,589.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock valued at $34,000 after acquiring an additional 4,910 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Bausch Health Cos by 6,661.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock valued at $35,000 after acquiring an additional 5,329 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Bausch Health Cos by 65.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after acquiring an additional 3,106 shares during the last quarter. Finally, Camelot Portfolios LLC purchased a new stake in shares of Bausch Health Cos in the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Cos Company Profile

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.