Bausch Health Cos (NYSE:BHC) Hits New 52-Week Low – What’s Next?

Bausch Health Cos Inc. (NYSE:BHC) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $4.92 and last traded at $4.9350, with a volume of 740066 shares trading hands. The stock had previously closed at $4.99.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BHC. Royal Bank Of Canada lowered their target price on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Barclays lowered their target price on shares of Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Finally, Weiss Ratings lowered shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $8.00.

Bausch Health Cos Stock Down 1.1%

The company has a debt-to-equity ratio of 54.68, a quick ratio of 0.97 and a current ratio of 1.32. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -1.52 and a beta of 0.40. The stock’s fifty day moving average is $5.45 and its two-hundred day moving average is $5.98.

Bausch Health Cos (NYSE:BHC) last posted 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). Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%.The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.37 billion. Sell-side analysts predict that Bausch Health Cos Inc. will post 4.08 earnings per share for the current fiscal year.

Insider Activity at Bausch Health Cos

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of Bausch Health Cos stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total transaction of $132,796.08. Following the transaction, the director owned 49,339 shares of the company’s stock, valued at $267,910.77. This trade represents a 33.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bausch Health Cos

Several hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its position in shares of Bausch Health Cos by 2.6% during the 2nd quarter. Tidal Investments LLC now owns 50,131 shares of the company’s stock worth $334,000 after buying an additional 1,276 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Bausch Health Cos by 14.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,067 shares of the company’s stock worth $98,000 after buying an additional 1,812 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Bausch Health Cos by 4.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 54,169 shares of the company’s stock worth $292,000 after buying an additional 2,114 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Bausch Health Cos by 2.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock worth $690,000 after buying an additional 2,552 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of 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 buying an additional 3,106 shares in the last quarter. Institutional investors 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.