Bausch Health Companies (NYSE:BHC) Shares Gap Up – Still a Buy?

Bausch Health Companies Inc. (NYSE:BHC) shares gapped up before the market opened on Thursday . The stock had previously closed at $6.51, but opened at $6.96. Bausch Health Companies shares last traded at $7.47, with a volume of 1,572,807 shares traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on BHC shares. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada reduced their target price on shares of Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $8.00 price target (down previously from $12.00) on shares of Bausch Health Companies in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.42.

Bausch Health Companies Trading Up 1.7 %

The business’s 50-day simple moving average is $7.35 and its 200 day simple moving average is $7.48. The company has a market capitalization of $2.64 billion, a P/E ratio of -60.87, a P/E/G ratio of 0.38 and a beta of 0.68.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.44). Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 650.39%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. As a group, sell-side analysts predict that Bausch Health Companies Inc. will post 4.31 EPS for the current fiscal year.

Institutional Trading of Bausch Health Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in BHC. Goldentree Asset Management LP raised its position in shares of Bausch Health Companies by 31.0% during the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock worth $239,552,000 after purchasing an additional 6,958,717 shares during the period. Vanguard Group Inc. raised its holdings in shares of Bausch Health Companies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company’s stock valued at $94,460,000 after acquiring an additional 145,078 shares during the period. Franklin Resources Inc. lifted its position in shares of Bausch Health Companies by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 5,316,822 shares of the company’s stock valued at $42,855,000 after acquiring an additional 56,446 shares in the last quarter. Maple Rock Capital Partners Inc. raised its stake in Bausch Health Companies by 156.7% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 5,300,000 shares of the company’s stock valued at $42,718,000 after purchasing an additional 3,235,100 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bausch Health Companies by 46.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company’s stock valued at $38,501,000 after purchasing an additional 1,510,445 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors.

Bausch Health Companies Company Profile

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.