Bausch Health Companies (NYSE:BHC) Stock Price Down 7.2%

Bausch Health Companies Inc. (NYSE:BHC)’s share price traded down 7.2% during mid-day trading on Thursday . The stock traded as low as $7.87 and last traded at $8.12. 1,233,683 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 2,741,848 shares. The stock had previously closed at $8.75.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada cut their target price on shares of Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 23rd. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Jefferies Financial Group decreased their target price on Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Finally, Piper Sandler upped their price target on Bausch Health Companies from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.33.

Bausch Health Companies Trading Down 8.2 %

The stock has a market cap of $2.93 billion, a P/E ratio of -4.95 and a beta of 0.90. The company’s fifty day simple moving average is $9.32 and its 200-day simple moving average is $8.21.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. Bausch Health Companies had a positive return on equity of 5,147.48% and a negative net margin of 6.76%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the company earned $1.02 EPS. Bausch Health Companies’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that Bausch Health Companies Inc. will post 4.03 earnings per share for the current fiscal year.

Institutional Trading of Bausch Health Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. acquired a new stake in shares of Bausch Health Companies in the first quarter valued at approximately $32,000. Principal Securities Inc. acquired a new position in Bausch Health Companies in the fourth quarter valued at approximately $31,000. Pinnacle Associates Ltd. boosted its stake in Bausch Health Companies by 14.1% in the first quarter. Pinnacle Associates Ltd. now owns 33,649 shares of the company’s stock valued at $357,000 after acquiring an additional 4,149 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Bausch Health Companies by 283.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after acquiring an additional 5,112 shares during the period. Finally, Thompson Investment Management Inc. grew its holdings in Bausch Health Companies by 2.6% during the 4th quarter. Thompson Investment Management Inc. now owns 218,860 shares of the company’s stock worth $1,755,000 after acquiring an additional 5,505 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Companies Company Profile

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.