Bausch Health Companies (NYSE:BHC) Stock Price Up 7%

Bausch Health Companies Inc (NYSE:BHC) shares rose 7% on Friday . The company traded as high as $21.01 and last traded at $20.62, approximately 5,215,870 shares changed hands during mid-day trading. An increase of 38% from the average daily volume of 3,766,246 shares. The stock had previously closed at $19.28.

BHC has been the topic of a number of research reports. Guggenheim initiated coverage on shares of Bausch Health Companies in a research note on Thursday, September 12th. They issued a “buy” rating and a $30.00 price target on the stock. Mizuho set a $45.00 price target on shares of Bausch Health Companies and gave the company a “buy” rating in a research note on Thursday, June 20th. HC Wainwright lifted their price target on shares of Bausch Health Companies from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays set a $28.00 price target on shares of Bausch Health Companies and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, TD Securities raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $29.68.

The stock’s 50-day moving average price is $21.49 and its 200 day moving average price is $23.10. The company has a debt-to-equity ratio of 8.94, a current ratio of 1.21 and a quick ratio of 0.92. The firm has a market cap of $6.78 billion, a P/E ratio of 4.53 and a beta of 0.85.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.03). The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Bausch Health Companies had a positive return on equity of 52.12% and a negative net margin of 10.88%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. As a group, analysts forecast that Bausch Health Companies Inc will post 4.15 EPS for the current fiscal year.

In other Bausch Health Companies news, EVP Christina Ackermann sold 3,418 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $22.45, for a total transaction of $76,734.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Joseph C. Papa purchased 30,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $23.31 per share, for a total transaction of $699,300.00. Insiders own 11.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Investors Research Corp raised its position in Bausch Health Companies by 85.7% during the second quarter. Investors Research Corp now owns 1,300 shares of the company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. Cullinan Associates Inc. raised its position in Bausch Health Companies by 1.5% during the second quarter. Cullinan Associates Inc. now owns 47,033 shares of the company’s stock worth $1,186,000 after acquiring an additional 700 shares in the last quarter. Pictet Asset Management Ltd. raised its position in Bausch Health Companies by 0.6% during the second quarter. Pictet Asset Management Ltd. now owns 115,664 shares of the company’s stock worth $2,924,000 after acquiring an additional 700 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management raised its position in Bausch Health Companies by 1.5% during the second quarter. B & T Capital Management DBA Alpha Capital Management now owns 56,292 shares of the company’s stock worth $1,420,000 after acquiring an additional 834 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in Bausch Health Companies by 41.8% during the second quarter. Captrust Financial Advisors now owns 2,835 shares of the company’s stock worth $71,000 after acquiring an additional 835 shares in the last quarter. 56.01% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Companies (NYSE:BHC)

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.

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