Short Interest in Bausch Health Companies Inc. (NYSE:BHC) Declines By 17.0%

Bausch Health Companies Inc. (NYSE:BHC) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 6,450,000 shares, a drop of 17.0% from the February 13th total of 7,770,000 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average trading volume of 2,440,000 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Royal Bank of Canada decreased their price target on Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.42.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mountain Hill Investment Partners Corp. bought a new stake in shares of Bausch Health Companies during the 4th quarter valued at $56,000. Bank of Nova Scotia acquired a new position in shares of Bausch Health Companies during the fourth quarter worth about $83,000. One68 Global Capital LLC acquired a new stake in shares of Bausch Health Companies in the fourth quarter valued at about $90,000. Balyasny Asset Management L.P. bought a new position in shares of Bausch Health Companies in the fourth quarter valued at $97,000. Finally, Alpine Global Management LLC bought a new stake in shares of Bausch Health Companies in the 4th quarter valued at about $114,000. 78.65% of the stock is owned by institutional investors.

Bausch Health Companies Trading Down 0.2 %

Bausch Health Companies stock traded down $0.02 during trading hours on Wednesday, reaching $7.00. 1,831,993 shares of the company were exchanged, compared to its average volume of 2,706,144. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -58.29, a PEG ratio of 0.37 and a beta of 0.59. Bausch Health Companies has a 12 month low of $3.96 and a 12 month high of $11.46. The stock has a 50-day moving average of $7.16 and a 200 day moving average of $7.68.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.44). The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 577.82%. As a group, research analysts forecast that Bausch Health Companies will post 4.41 EPS for the current year.

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.