Bausch Health Companies (NYSE:BHC) Shares Gap Down to $8.37

Bausch Health Companies Inc. (NYSE:BHC) shares gapped down before the market opened on Tuesday . The stock had previously closed at $8.37, but opened at $8.09. Bausch Health Companies shares last traded at $7.87, with a volume of 1,529,104 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BHC shares. Jefferies Financial Group raised their price target on Bausch Health Companies from $7.00 to $9.50 in a research note on Monday, May 22nd. StockNews.com initiated coverage on Bausch Health Companies in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Royal Bank of Canada raised their price objective on Bausch Health Companies from $8.00 to $9.00 and gave the company a “sector perform” rating in a research report on Monday, July 24th. Finally, TD Cowen downgraded shares of Bausch Health Companies from an “outperform” rating to a “market perform” rating in a research report on Friday, June 16th.

Bausch Health Companies Price Performance

The firm’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $7.97. The firm has a market capitalization of $2.80 billion, a PE ratio of -15.20 and a beta of 0.98. The company has a quick ratio of 0.81, a current ratio of 1.12 and a debt-to-equity ratio of 74.20.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Bausch Health Companies had a negative net margin of 2.23% and a positive return on equity of 411.18%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.04 billion. On average, research analysts forecast that Bausch Health Companies Inc. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Seana Carson sold 6,685 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $8.28, for a total transaction of $55,351.80. Following the completion of the sale, the executive vice president now owns 385,213 shares of the company’s stock, valued at approximately $3,189,563.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mach 1 Financial Group LLC bought a new position in Bausch Health Companies in the 1st quarter worth $15,148,000. Parallel Advisors LLC increased its holdings in Bausch Health Companies by 57.4% in the 2nd quarter. Parallel Advisors LLC now owns 3,262 shares of the company’s stock worth $26,000 after acquiring an additional 1,189 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Bausch Health Companies during the 2nd quarter worth approximately $49,000. Steward Financial Group LLC purchased a new stake in shares of Bausch Health Companies in the fourth quarter worth $40,000. Finally, Oakworth Capital Inc. raised its position in shares of Bausch Health Companies by 22.9% during the 1st quarter. Oakworth Capital Inc. now owns 9,952 shares of the company’s stock valued at $81,000 after purchasing an additional 1,852 shares during the period. Hedge funds and other institutional investors own 74.56% of the company’s stock.

About Bausch Health Companies

Bausch Health Companies Inc operates as a diversified pharmaceutical company. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, and eye health. The company operates through five segments: Salix, International, Solta Medical, Diversified, and Bausch + Lomb.