Investors Buy Large Volume of Put Options on Bausch Health Companies (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC – Get Rating) was the recipient of some unusual options trading on Friday. Traders bought 22,560 put options on the stock. This is an increase of approximately 21% compared to the typical daily volume of 18,678 put options.

Bausch Health Companies Stock Performance

Shares of BHC stock opened at $8.15 on Friday. The stock’s 50-day moving average is $7.15 and its two-hundred day moving average is $6.99. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 0.11 and a beta of 0.96. Bausch Health Companies has a 1 year low of $4.00 and a 1 year high of $26.39. The company has a debt-to-equity ratio of 48.05, a quick ratio of 0.77 and a current ratio of 1.05.

Bausch Health Companies (NYSE:BHC – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.16). The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Bausch Health Companies had a return on equity of 942.47% and a net margin of 3.13%. Analysts predict that Bausch Health Companies will post 2.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Bausch Health Companies in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Bausch Health Companies has a consensus rating of “Hold” and a consensus price target of $10.60.

Hedge Funds Weigh In On Bausch Health Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in BHC. Wipfli Financial Advisors LLC purchased a new position in shares of Bausch Health Companies during the third quarter worth about $25,000. Optiver Holding B.V. grew its holdings in shares of Bausch Health Companies by 707.6% during the third quarter. Optiver Holding B.V. now owns 4,054 shares of the company’s stock worth $28,000 after buying an additional 3,552 shares during the last quarter. Pacifica Partners Inc. grew its holdings in shares of Bausch Health Companies by 2,232.6% during the fourth quarter. Pacifica Partners Inc. now owns 5,015 shares of the company’s stock worth $31,000 after buying an additional 4,800 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Bausch Health Companies by 420.1% during the third quarter. Quadrant Capital Group LLC now owns 5,851 shares of the company’s stock worth $40,000 after buying an additional 4,726 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Bausch Health Companies by 85.1% during the second quarter. First Horizon Advisors Inc. now owns 5,607 shares of the company’s stock worth $45,000 after buying an additional 2,578 shares during the last quarter. Hedge funds and other institutional investors own 66.99% of the company’s stock.

About Bausch Health Companies

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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.