Bausch Health Companies Inc. (NYSE:BHC) Short Interest Down 5.4% in March

Bausch Health Companies Inc. (NYSE:BHC) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 22,500,000 shares, a decline of 5.4% from the March 15th total of 23,780,000 shares. Based on an average trading volume of 2,640,000 shares, the days-to-cover ratio is presently 8.5 days. Currently, 6.3% of the company’s shares are short sold.

Bausch Health Companies Stock Up 1.3 %

Shares of NYSE BHC opened at $8.74 on Wednesday. The firm has a market cap of $3.19 billion, a PE ratio of -5.40 and a beta of 0.85. Bausch Health Companies has a 12-month low of $5.57 and a 12-month high of $11.46. The company’s fifty day simple moving average is $9.26 and its 200 day simple moving average is $8.14.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.14. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.29 billion. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. Bausch Health Companies’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 earnings per share. On average, equities analysts predict that Bausch Health Companies will post 3.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BHC. Royal Bank of Canada reissued a “sector perform” rating and set a $12.00 target price on shares of Bausch Health Companies in a report on Friday, April 12th. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group reduced their price objective on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BHC. Royal Bank of Canada raised its holdings in Bausch Health Companies by 227.2% during the fourth quarter. Royal Bank of Canada now owns 11,743,558 shares of the company’s stock worth $94,183,000 after buying an additional 8,154,938 shares during the last quarter. Nomura Holdings Inc. raised its holdings in Bausch Health Companies by 67.7% during the third quarter. Nomura Holdings Inc. now owns 18,086,000 shares of the company’s stock worth $148,667,000 after buying an additional 7,303,015 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in Bausch Health Companies during the third quarter worth $57,540,000. Goldentree Asset Management LP raised its holdings in Bausch Health Companies by 19.6% during the third quarter. Goldentree Asset Management LP now owns 23,987,462 shares of the company’s stock worth $197,177,000 after buying an additional 3,931,234 shares during the last quarter. Finally, Norges Bank acquired a new position in Bausch Health Companies during the fourth quarter worth $31,121,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

About Bausch Health Companies

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.