Bausch Health Companies (NYSE:BHC) Shares Gap Up – What’s Next?

Shares of Bausch Health Companies Inc. (NYSE:BHC) gapped up before the market opened on Monday . The stock had previously closed at $7.95, but opened at $8.37. Bausch Health Companies shares last traded at $8.30, with a volume of 227,635 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on BHC. Scotiabank reduced their price objective on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $9.00 to $3.00 in a report on Friday, August 2nd. Jefferies Financial Group reduced their target price on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Raymond James started coverage on shares of Bausch Health Companies in a research note on Wednesday, July 10th. They set a “market perform” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.33.

Bausch Health Companies Stock Performance

The firm has a market capitalization of $3.03 billion, a PE ratio of -6.77 and a beta of 0.77. The company has a fifty day simple moving average of $6.83 and a two-hundred day simple moving average of $7.14.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the business earned $0.81 EPS. On average, equities analysts anticipate that Bausch Health Companies Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the sale, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.12% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Companies

Several institutional investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. purchased a new stake in shares of Bausch Health Companies during the 1st quarter valued at $32,000. Headlands Technologies LLC acquired a new stake in Bausch Health Companies in the second quarter worth about $35,000. MQS Management LLC purchased a new stake in shares of Bausch Health Companies during the second quarter worth about $71,000. Certuity LLC purchased a new stake in shares of Bausch Health Companies during the second quarter worth about $75,000. Finally, Bfsg LLC increased its holdings in shares of Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after acquiring an additional 3,643 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors and hedge funds.

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.