Bausch Health Companies (NYSE:BHC) Shares Gap Down – Time to Sell?

Bausch Health Companies Inc. (NYSE:BHC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $8.32, but opened at $8.10. Bausch Health Companies shares last traded at $7.60, with a volume of 497,445 shares trading hands.

Wall Street Analyst Weigh In

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

Bausch Health Companies Stock Performance

The business has a 50-day simple moving average of $8.41 and a two-hundred day simple moving average of $7.22. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -15.79 and a beta of 0.69.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the firm posted $1.03 EPS. Bausch Health Companies’s quarterly revenue was up 12.2% on a year-over-year basis. Research analysts predict that Bausch Health Companies Inc. will post 3.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch Health Companies

A number of large investors have recently made changes to their positions in the stock. Goldentree Asset Management LP grew its position in Bausch Health Companies by 31.0% during the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock worth $239,552,000 after buying an additional 6,958,717 shares during the period. Bank of Montreal Can grew its holdings in shares of Bausch Health Companies by 234.0% in the 3rd quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock worth $31,598,000 after acquiring an additional 2,685,675 shares during the period. Maple Rock Capital Partners Inc. acquired a new position in Bausch Health Companies during the third quarter worth $16,850,000. Mackenzie Financial Corp boosted its position in Bausch Health Companies by 111.0% during the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after purchasing an additional 1,252,834 shares in the last quarter. Finally, Clearline Capital LP acquired a new stake in Bausch Health Companies in the second quarter valued at $6,881,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

About Bausch Health Companies

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.