Bausch Health Cos (NYSE:BHC) Stock Price Down 4.7% – Time to Sell?

Bausch Health Cos Inc. (NYSE:BHC)’s stock price fell 4.7% on Friday . The stock traded as low as $6.30 and last traded at $6.3090. 761,382 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,539,900 shares. The stock had previously closed at $6.62.

Analyst Ratings Changes

Several brokerages have commented on BHC. Weiss Ratings restated a “hold (c)” rating on shares of Bausch Health Cos in a report on Wednesday, October 8th. Wall Street Zen raised shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.00.

Bausch Health Cos Trading Down 5.5%

The stock has a market cap of $2.32 billion, a P/E ratio of 24.10 and a beta of 0.47. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 141.90. The stock’s fifty day moving average price is $6.59 and its 200 day moving average price is $6.22.

Hedge Funds Weigh In On Bausch Health Cos

Several large investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. grew its stake in shares of Bausch Health Cos by 244.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company’s stock worth $27,000 after buying an additional 3,001 shares during the last quarter. Private Management Group Inc. boosted its holdings in Bausch Health Cos by 13.8% in the first quarter. Private Management Group Inc. now owns 1,439,426 shares of the company’s stock worth $9,313,000 after acquiring an additional 174,176 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Bausch Health Cos in the first quarter worth $758,000. XTX Topco Ltd bought a new position in shares of Bausch Health Cos during the first quarter valued at $139,000. Finally, Wealthquest Corp bought a new position in shares of Bausch Health Cos during the first quarter valued at $58,000. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Cos

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.