Bausch Health Companies (NYSE:BHC) Shares Down 6.9% – Here’s Why

Bausch Health Companies Inc. (NYSE:BHC) shares dropped 6.9% on Monday . The stock traded as low as $4.78 and last traded at $4.75. Approximately 444,563 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 2,703,328 shares. The stock had previously closed at $5.10.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and set a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. Royal Bank of Canada lowered their price objective on Bausch Health Companies from $9.00 to $8.50 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.17.

Bausch Health Companies Price Performance

The firm has a 50-day moving average of $6.34 and a 200-day moving average of $7.41. The stock has a market cap of $1.73 billion, a PE ratio of -39.25, a PEG ratio of 0.37 and a beta of 0.43.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results 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 577.82%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Equities analysts forecast that Bausch Health Companies Inc. will post 4.41 EPS for the current fiscal year.

Institutional Trading of Bausch Health Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHC. Geode Capital Management LLC raised its holdings in shares of Bausch Health Companies by 20.5% in the third quarter. Geode Capital Management LLC now owns 636,082 shares of the company’s stock worth $6,448,000 after buying an additional 108,269 shares during the period. Range Financial Group LLC purchased a new stake in shares of Bausch Health Companies during the fourth quarter valued at $1,004,000. Sanders Morris Harris LLC grew its holdings in shares of Bausch Health Companies by 16.0% in the fourth quarter. Sanders Morris Harris LLC now owns 28,975 shares of the company’s stock worth $234,000 after purchasing an additional 4,000 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Bausch Health Companies in the 4th quarter valued at about $228,000. Finally, SG Americas Securities LLC grew its stake in Bausch Health Companies by 62.0% in the 4th quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company’s stock worth $26,614,000 after acquiring an additional 1,263,706 shares in the last quarter. 78.65% of the stock is owned by hedge funds and other 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.