Bausch Health Companies Inc. (NYSE:BHC – Get Rating) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 18,090,000 shares, an increase of 24.2% from the April 30th total of 14,570,000 shares. Based on an average daily volume of 6,280,000 shares, the days-to-cover ratio is presently 2.9 days. Currently, 5.2% of the company’s shares are sold short.
A number of research firms recently commented on BHC. TheStreet lowered shares of Bausch Health Companies from a “c-” rating to a “d+” rating in a research note on Monday, March 28th. BMO Capital Markets decreased their target price on shares of Bausch Health Companies from $26.00 to $15.00 in a research note on Wednesday, May 11th. Piper Sandler decreased their target price on shares of Bausch Health Companies from $27.00 to $7.00 in a research note on Thursday, May 26th. Royal Bank of Canada decreased their target price on shares of Bausch Health Companies from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Sunday, May 15th. Finally, Bank of America decreased their target price on shares of Bausch Health Companies from $25.00 to $12.00 in a research note on Wednesday, May 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $18.50.
Shares of BHC stock traded down $0.05 on Wednesday, hitting $9.67. The company’s stock had a trading volume of 461,740 shares, compared to its average volume of 11,335,781. Bausch Health Companies has a fifty-two week low of $7.80 and a fifty-two week high of $32.54. The firm’s fifty day moving average price is $17.73 and its 200-day moving average price is $22.50. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -8.53, a P/E/G ratio of 0.22 and a beta of 1.62.
In related news, insider Joseph F. Gordon sold 3,889 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $21.76, for a total transaction of $84,624.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert Spurr sold 4,846 shares of Bausch Health Companies stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $22.20, for a total transaction of $107,581.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,330 shares of company stock worth $227,599. Corporate insiders own 13.75% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP bought a new position in Bausch Health Companies in the 3rd quarter worth $1,255,000. Guardian Capital Advisors LP increased its holdings in shares of Bausch Health Companies by 154.6% during the 4th quarter. Guardian Capital Advisors LP now owns 36,650 shares of the company’s stock worth $992,000 after purchasing an additional 22,255 shares during the period. National Bank of Canada FI bought a new position in shares of Bausch Health Companies during the 4th quarter worth about $4,525,000. Fifth Third Bancorp increased its holdings in shares of Bausch Health Companies by 296.0% during the 4th quarter. Fifth Third Bancorp now owns 4,348 shares of the company’s stock worth $120,000 after purchasing an additional 3,250 shares during the period. Finally, Bridgewater Associates LP increased its holdings in shares of Bausch Health Companies by 69.3% during the 4th quarter. Bridgewater Associates LP now owns 145,245 shares of the company’s stock worth $4,018,000 after purchasing an additional 59,478 shares during the period. Hedge funds and other institutional investors own 73.38% of the company’s stock.
Bausch Health Companies Company Profile (Get Rating)
Bausch Health Companies Inc, together with its subsidiaries, develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through five segments: Bausch + Lomb, Salix, International Rx, Ortho Dermatologics, and Diversified Products.
- Get a free copy of the StockNews.com research report on Bausch Health Companies (BHC)
- The Analysts Like The Fit Of Victoria’s Secret & Co
- Ambarella Is A Buy For Patient Investors
- Don’t Bet On A Big Rebound For Salesforce.com Stock
- 3 Specialty Retailers with Special Upside
- Is Roku (NASDAQ: ROKU) Bottoming Out?
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for Bausch Health Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bausch Health Companies and related companies with MarketBeat.com's FREE daily email newsletter.