Bausch Health Cos (NYSE:BHC) Stock Jumps 6.5% – Should You Buy?

Bausch Health Cos Inc. (NYSE:BHC) rose 6.5% on Thursday. The company traded as high as $6.16 and last traded at $6.2710. Approximately 112,927 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 2,478,126 shares. The stock had previously closed at $5.89.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Jefferies Financial Group raised shares of Bausch Health Cos to a “hold” rating in a report on Wednesday, July 22nd. Zacks Research raised shares of Bausch Health Cos from a “hold” rating to a “strong-buy” rating in a report on Monday, September 21st. Royal Bank Of Canada reiterated a “sector perform” rating and set a $9.00 target price on shares of Bausch Health Cos in a research note on Thursday, October 8th. Finally, Weiss Ratings raised shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Bausch Health Cos presently has an average rating of “Hold” and an average price target of $8.00.

Bausch Health Cos Stock Down 0.1%

The firm’s 50-day moving average price is $6.17 and its 200 day moving average price is $5.60. The firm has a market cap of $2.36 billion, a P/E ratio of -2.13 and a beta of 0.37.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.30. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.59 billion. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. On average, equities analysts predict that Bausch Health Cos Inc. will post 4.35 earnings per share for the current year.

Insider Transactions at Bausch Health Cos

In related news, insider Aimee Lenar sold 36,827 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total value of $258,893.81. Following the sale, the insider directly owned 334,853 shares in the company, valued at $2,354,016.59. This trade represents a 9.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Roxbury Financial LLC bought a new position in shares of Bausch Health Cos in the third quarter worth $28,000. Tacita Capital Inc bought a new stake in shares of Bausch Health Cos during the second quarter valued at about $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Bausch Health Cos by 25,689.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,058 shares of the company’s stock valued at $70,000 after purchasing an additional 10,019 shares in the last quarter. MQS Management LLC bought a new stake in shares of Bausch Health Cos during the first quarter valued at about $94,000. Finally, Viewpoint Capital Management LLC acquired a new stake in Bausch Health Cos in the first quarter worth about $97,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

About Bausch Health Cos

Bausch Health Companies Inc is a multinational specialty pharmaceutical company headquartered in Laval, Quebec. The company develops, manufactures and markets prescription medicines, branded and generic pharmaceuticals, over-the-counter products and medical devices across a range of therapeutic areas.

Its business includes Salix Pharmaceuticals, which focuses on gastrointestinal treatments; Ortho Dermatologics, which develops prescription therapies for dermatological conditions; and Solta Medical, which provides energy-based medical and aesthetic devices.