Bausch Health Companies (NYSE:BHC) Shares Gap Up – Time to Buy?

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 trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Scotiabank cut their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada reduced their price objective on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group lowered their target price on shares of 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. Truist Financial dropped their target price on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Finally, Raymond James began coverage on Bausch Health Companies in a report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Bausch Health Companies presently has an average rating of “Hold” and an average target price of $7.33.

Bausch Health Companies Price Performance

The stock has a market cap of $3.03 billion, a P/E ratio of -6.77 and a beta of 0.77. The stock’s 50-day moving average is $6.83 and its two-hundred day moving average is $7.14.

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

Insider Activity at Bausch Health Companies

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the sale, the executive vice president now owns 435,198 shares of the company’s stock, valued at $2,702,579.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bausch Health Companies

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Bausch Health Companies by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 11,713,993 shares of the company’s stock valued at $124,285,000 after acquiring an additional 114,862 shares during the last quarter. Natixis raised its position in Bausch Health Companies by 14.3% during the first quarter. Natixis now owns 3,652,200 shares of the company’s stock valued at $38,707,000 after purchasing an additional 456,000 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of Bausch Health Companies by 1,050.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock valued at $36,135,000 after purchasing an additional 3,113,123 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bausch Health Companies by 12.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,165,512 shares of the company’s stock worth $22,063,000 after purchasing an additional 341,936 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Bausch Health Companies by 111.0% in the 2nd 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 during the period. 78.65% of the stock is owned by hedge funds and other 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.