Bausch Health Cos (NYSE:BHC) Trading Up 4.9% – Time to Buy?

Bausch Health Cos Inc. (NYSE:BHC) shares rose 4.9% during trading on Tuesday . The stock traded as high as $7.26 and last traded at $7.3350. Approximately 2,553,177 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 2,557,288 shares. The stock had previously closed at $6.99.

Analysts Set New Price Targets

BHC has been the topic of a number of recent analyst reports. Barclays assumed coverage on shares of Bausch Health Cos in a research report on Monday, December 8th. They set an “equal weight” rating and a $8.00 price target on the stock. Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bausch Health Cos in a research note on Monday, December 15th. Finally, Raymond James Financial raised shares of Bausch Health Cos to a “hold” rating in a research report on Monday, December 15th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, Bausch Health Cos has a consensus rating of “Hold” and a consensus price target of $8.67.

Bausch Health Cos Stock Up 4.9%

The firm has a 50 day simple moving average of $6.54 and a 200-day simple moving average of $6.60. The company has a quick ratio of 0.97, a current ratio of 1.30 and a debt-to-equity ratio of 57.48. The stock has a market cap of $2.72 billion, a P/E ratio of 7.55 and a beta of 0.41.

Hedge Funds Weigh In On Bausch Health Cos

A number of hedge funds have recently bought and sold shares of BHC. Tidal Investments LLC raised its position in Bausch Health Cos by 2.6% in the 2nd quarter. Tidal Investments LLC now owns 50,131 shares of the company’s stock valued at $334,000 after buying an additional 1,276 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Bausch Health Cos by 2.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock valued at $690,000 after purchasing an additional 2,552 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Bausch Health Cos by 65.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after buying an additional 3,106 shares during the period. Bfsg LLC increased its position in Bausch Health Cos by 32.8% during the 3rd quarter. Bfsg LLC now owns 14,465 shares of the company’s stock valued at $93,000 after purchasing an additional 3,570 shares during the period. Finally, State of Wyoming boosted its position in shares of Bausch Health Cos by 6.4% during the second quarter. State of Wyoming now owns 63,653 shares of the company’s stock valued at $424,000 after purchasing an additional 3,855 shares in the last quarter. Institutional investors own 78.65% of the company’s stock.

Bausch Health Cos Company Profile

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.