Bausch Health Companies (NYSE:BHC) Sees Strong Trading Volume – Here’s Why

Bausch Health Companies Inc. (NYSE:BHC) saw strong trading volume on Friday . 2,380,744 shares changed hands 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.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BHC. Royal Bank of Canada increased their target price 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. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. 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. 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 Down 1.9 %

The firm has a market cap of $2.71 billion, a P/E ratio of -15.66 and a beta of 0.69. The business’s 50 day moving average is $7.99 and its 200-day moving average is $7.44.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.42 billion. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. As a group, equities analysts predict that Bausch Health Companies Inc. will post 3.73 earnings per share for the current year.

Hedge Funds Weigh In On Bausch Health Companies

Large investors have recently added to or reduced their stakes in the company. MQS Management LLC bought a new position in shares of Bausch Health Companies in the 2nd quarter worth about $71,000. Kendall Capital Management acquired a new stake in Bausch Health Companies during the second quarter worth about $87,000. Brown Brothers Harriman & Co. bought a new position in Bausch Health Companies in the second quarter worth about $109,000. Seven Eight Capital LP acquired a new position in Bausch Health Companies in the second quarter valued at approximately $173,000. Finally, Merit Financial Group LLC bought a new position in shares of Bausch Health Companies during the fourth quarter valued at approximately $228,000. 78.65% of the stock is currently owned by institutional investors.

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.