Bausch Health Cos (NYSE:BHC) Stock Jumps 6.5% – What’s Next?

Bausch Health Cos Inc. (NYSE:BHC)’s share price traded up 6.5% during trading on Thursday. The stock traded as high as $6.16 and last traded at $6.2710. Approximately 112,927 shares changed hands during trading, a decline of 95% from the average session volume of 2,478,126 shares. The stock had previously closed at $5.89.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 price target on shares of Bausch Health Cos in a report on Thursday, October 8th. Wall Street Zen raised shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Zacks Research upgraded shares of Bausch Health Cos from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.00.

Bausch Health Cos Stock Performance

The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -2.13 and a beta of 0.37. The company has a 50-day simple moving average of $6.16 and a two-hundred day simple moving average of $5.58.

Bausch Health Cos (NYSE:BHC) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.96 by $0.30. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.59 billion. As a group, sell-side analysts predict that Bausch Health Cos Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Bausch Health Cos

In other Bausch Health Cos news, insider Aimee Lenar sold 36,827 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following the completion of the sale, the insider owned 334,853 shares in the company, valued at $2,354,016.59. This trade represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 20.67% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Cos

A number of institutional investors and hedge funds have recently modified their holdings of BHC. Roxbury Financial LLC acquired a new stake in Bausch Health Cos in the 3rd quarter valued at about $28,000. Tacita Capital Inc bought a new position in Bausch Health Cos during the second quarter worth about $29,000. Caitong International Asset Management Co. Ltd increased its position in Bausch Health Cos by 25,689.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,058 shares of the company’s stock worth $70,000 after buying an additional 10,019 shares during the last quarter. MQS Management LLC acquired a new position in Bausch Health Cos during the first quarter worth approximately $94,000. Finally, Viewpoint Capital Management LLC acquired a new position in Bausch Health Cos during the first quarter worth approximately $97,000. 78.65% of the stock is owned by institutional investors.

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.