Bausch Health Cos (NYSE:BHC) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Bausch Health Cos Inc. (NYSE:BHC) saw unusually-strong trading volume on Friday . 6,961,410 shares traded hands during mid-day trading, an increase of 244% from the previous session’s volume of 2,025,402 shares.The stock last traded at $5.3950 and had previously closed at $5.28.

Analyst Upgrades and Downgrades

BHC has been the subject of several research reports. Weiss Ratings lowered Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Royal Bank Of Canada dropped their price target on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $8.00.

Bausch Health Cos Trading Down 2.9%

The company has a market cap of $1.92 billion, a P/E ratio of -1.58 and a beta of 0.40. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 54.68. The firm’s 50-day moving average price is $5.36 and its 200-day moving average price is $5.87.

Bausch Health Cos (NYSE:BHC) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.03). Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%.The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.37 billion. As a group, equities research analysts expect that Bausch Health Cos Inc. will post 4.05 earnings per share for the current fiscal year.

Insider Transactions at Bausch Health Cos

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of Bausch Health Cos stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total transaction of $132,796.08. Following the completion of the transaction, the director owned 49,339 shares of the company’s stock, valued at $267,910.77. The trade was a 33.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 20.67% of the company’s stock.

Institutional Trading of Bausch Health Cos

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Bausch Health Cos by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 12,241,072 shares of the company’s stock worth $78,808,000 after purchasing an additional 470,968 shares in the last quarter. Goldentree Asset Management LP raised its holdings in shares of Bausch Health Cos by 1.7% during the 3rd quarter. Goldentree Asset Management LP now owns 34,833,431 shares of the company’s stock valued at $224,409,000 after buying an additional 578,542 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Bausch Health Cos during the 4th quarter valued at about $3,651,000. Cinctive Capital Management LP bought a new stake in Bausch Health Cos in the 3rd quarter worth approximately $697,000. Finally, Private Management Group Inc. lifted its position in Bausch Health Cos by 13.6% in the 3rd quarter. Private Management Group Inc. now owns 1,621,725 shares of the company’s stock worth $10,460,000 after buying an additional 194,158 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

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.