Bausch Health Cos (NYSE:BHC) Sees Large Volume Increase – Time to Buy?

Bausch Health Cos Inc. (NYSE:BHC) shares saw unusually-high trading volume on Thursday . Approximately 1,530,022 shares traded hands during trading, a decline of 22% from the previous session’s volume of 1,954,552 shares.The stock last traded at $5.9330 and had previously closed at $5.59.

Wall Street Analysts Forecast Growth

BHC has been the subject of several analyst reports. Royal Bank Of Canada reduced their price objective on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Raymond James Financial reaffirmed a “market perform” rating on shares of Bausch Health Cos in a research note on Monday, January 26th. Weiss Ratings lowered shares of Bausch Health Cos from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, February 19th. Truist Financial lifted their price objective on shares of Bausch Health Cos from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, January 7th. Finally, Wall Street Zen lowered shares of Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $8.00.

Bausch Health Cos Stock Performance

The company has a debt-to-equity ratio of 54.68, a quick ratio of 1.08 and a current ratio of 1.47. The firm’s 50 day moving average is $5.50 and its 200-day moving average is $6.19. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -1.74 and a beta of 0.42.

Bausch Health Cos (NYSE:BHC) last released its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.37 billion. Bausch Health Cos had a positive return on equity of 503.18% and a negative net margin of 11.47%. Sell-side analysts anticipate that Bausch Health Cos Inc. will post 4.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Caption Management LLC lifted its position in Bausch Health Cos by 101.1% during the 4th quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after acquiring an additional 405,789 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Bausch Health Cos by 12,589.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock worth $34,000 after acquiring an additional 4,910 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Bausch Health Cos by 6,661.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock worth $35,000 after acquiring an additional 5,329 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Bausch Health Cos by 65.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock worth $51,000 after acquiring an additional 3,106 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new position in Bausch Health Cos during the 4th quarter worth $59,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

About Bausch Health Cos

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.