Bausch Health Companies (NYSE:BHC) Sees Large Volume Increase – Still a Buy?

Bausch Health Companies Inc. (NYSE:BHC) shares saw an uptick in trading volume on Friday . 2,380,744 shares were traded during mid-day trading, an increase of 69% from the previous session’s volume of 1,409,622 shares.The stock last traded at $7.64 and had previously closed at $7.65.

Analyst Ratings Changes

A number of equities analysts have recently commented on BHC shares. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada raised their price target on Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.75.

Bausch Health Companies Stock Performance

The company has a market capitalization of $2.69 billion, a P/E ratio of -15.49 and a beta of 0.69. The stock’s fifty day moving average price is $7.95 and its 200-day moving average price is $7.44.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. On average, research analysts predict that Bausch Health Companies Inc. will post 3.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch Health Companies

Several hedge funds have recently added to or reduced their stakes in the business. MQS Management LLC acquired a new position in shares of Bausch Health Companies in the second quarter valued at $71,000. Seven Eight Capital LP acquired a new position in Bausch Health Companies in the 2nd quarter valued at about $173,000. Merit Financial Group LLC bought a new position in Bausch Health Companies in the 4th quarter valued at about $228,000. Sanders Morris Harris LLC lifted its position in Bausch Health Companies by 16.0% during the fourth quarter. Sanders Morris Harris LLC now owns 28,975 shares of the company’s stock worth $234,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in Bausch Health Companies by 13.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 32,384 shares of the company’s stock worth $264,000 after acquiring an additional 3,734 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Companies Company Profile

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.