Bausch Health Cos Sees Unusually Large Options Volume (NYSE:BHC)

Bausch Health Cos Inc. (NYSE:BHC) was the recipient of unusually large options trading on Thursday. Traders acquired 4,021 call options on the stock. This represents an increase of 134% compared to the typical daily volume of 1,722 call options.

Bausch Health Cos Stock Up 14.4%

BHC stock opened at $6.90 on Friday. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.32 and a quick ratio of 0.97. The stock has a market capitalization of $2.58 billion, a P/E ratio of -2.33 and a beta of 0.42. Bausch Health Cos has a fifty-two week low of $4.33 and a fifty-two week high of $8.69. The business has a 50-day moving average of $4.99 and a 200-day moving average of $5.47.

Bausch Health Cos (NYSE:BHC) last announced its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.30. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.59 billion. Bausch Health Cos had a negative return on equity of 1,389.97% and a negative net margin of 10.12%. On average, sell-side analysts anticipate that Bausch Health Cos will post 4.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BHC shares. Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings cut Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Zacks Research downgraded shares of Bausch Health Cos from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada cut their price target on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, April 27th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Bausch Health Cos currently has an average rating of “Reduce” and a consensus price target of $8.00.

Insiders Place Their Bets

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the transaction, the director directly owned 49,339 shares of the company’s stock, valued at approximately $267,910.77. The trade was a 33.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company’s stock.

Institutional Trading of Bausch Health Cos

A number of hedge funds and other institutional investors have recently made changes to their positions in BHC. Paulson & CO. Inc. boosted its holdings in Bausch Health Cos by 3.5% during the fourth quarter. Paulson & CO. Inc. now owns 73,255,869 shares of the company’s stock worth $509,128,000 after purchasing an additional 2,500,000 shares during the last quarter. Royal Bank of Canada grew its position in Bausch Health Cos by 24.9% in the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock valued at $61,362,000 after purchasing an additional 2,262,894 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Bausch Health Cos by 65.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,143,641 shares of the company’s stock valued at $35,748,000 after buying an additional 2,038,813 shares during the last quarter. Norges Bank acquired a new stake in Bausch Health Cos in the 4th quarter valued at $25,592,000. Finally, Dimensional Fund Advisors LP lifted its position in Bausch Health Cos by 10.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,604,818 shares of the company’s stock worth $19,456,000 after buying an additional 350,823 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Cos Company Profile

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.