Stock Traders Buy High Volume of Put Options on Bausch Health Companies (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) saw some unusual options trading on Tuesday. Traders purchased 27,740 put options on the company. This represents an increase of 409% compared to the average volume of 5,445 put options.

Wall Street Analyst Weigh In

BHC has been the topic of several research analyst reports. Jefferies Financial Group lowered 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. Scotiabank lowered their price target 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. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their price target 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. Finally, Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bausch Health Companies currently has a consensus rating of “Hold” and an average price target of $7.75.

Insider Buying and Selling at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the transaction, the executive vice president now owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. This trade represents a 2.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Bausch Health Companies during the second quarter valued at approximately $35,000. MQS Management LLC bought a new stake in shares of Bausch Health Companies during the second quarter valued at approximately $71,000. Certuity LLC bought a new stake in shares of Bausch Health Companies during the second quarter valued at approximately $75,000. Bfsg LLC increased its position 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 purchasing an additional 3,643 shares during the period. Finally, Kendall Capital Management bought a new stake in shares of Bausch Health Companies during the second quarter valued at approximately $87,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Companies Price Performance

BHC traded down $0.17 on Tuesday, hitting $7.78. The company had a trading volume of 1,238,293 shares, compared to its average volume of 2,851,322. The company’s fifty day moving average price is $8.39 and its 200 day moving average price is $7.11. Bausch Health Companies has a 1-year low of $3.96 and a 1-year high of $11.46. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -16.60 and a beta of 0.74.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts forecast that Bausch Health Companies will post 3.74 EPS for the current year.

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.