Investors Buy Large Volume of Call Options on Bausch Health Companies (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the recipient of unusually large options trading on Wednesday. Stock traders bought 6,028 call options on the stock. This is an increase of 54% compared to the average daily volume of 3,912 call options.

Bausch Health Companies Trading Down 4.3 %

Shares of NYSE BHC traded down $0.30 during trading hours on Wednesday, reaching $6.70. The stock had a trading volume of 1,010,548 shares, compared to its average volume of 2,704,370. The firm has a 50-day moving average of $7.12 and a 200-day moving average of $7.72. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -55.79, a PEG ratio of 0.37 and a beta of 0.59. Bausch Health Companies has a fifty-two week low of $3.96 and a fifty-two week high of $11.46.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.51 billion. On average, equities analysts predict that Bausch Health Companies will post 4.41 EPS for the current year.

Analyst Ratings Changes

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

Institutional Trading of Bausch Health Companies

Several hedge funds have recently made changes to their positions in the company. Goldentree Asset Management LP increased its stake 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 acquiring an additional 6,958,717 shares during the period. Maple Rock Capital Partners Inc. increased its position 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 worth $42,718,000 after purchasing an additional 3,235,100 shares during the period. Bank of Montreal Can increased its position in Bausch Health Companies by 234.0% during the 3rd quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock worth $31,598,000 after purchasing an additional 2,685,675 shares during the period. Compass Rose Asset Management LP raised its stake in shares of Bausch Health Companies by 366.7% during the 4th quarter. Compass Rose Asset Management LP now owns 2,100,000 shares of the company’s stock worth $16,926,000 after buying an additional 1,650,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bausch Health Companies by 46.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company’s stock valued at $38,501,000 after buying an additional 1,510,445 shares during the period. Institutional investors and hedge funds own 78.65% of the company’s stock.

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.