Bausch Health Companies (NYSE:BHC) Shares Gap Down – Should You Sell?

Bausch Health Companies Inc. (NYSE:BHC) gapped down prior to trading on Wednesday . The stock had previously closed at $8.32, but opened at $8.10. Bausch Health Companies shares last traded at $7.60, with a volume of 497,445 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Royal Bank of Canada increased their target price on shares of Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Finally, Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.75.

Bausch Health Companies Stock Performance

The business’s 50 day simple moving average is $8.39 and its 200 day simple moving average is $7.23.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. As a group, equities analysts predict that Bausch Health Companies Inc. will post 3.74 EPS for the current fiscal year.

Institutional Trading of Bausch Health Companies

Several institutional investors and hedge funds have recently bought and sold shares of BHC. Headlands Technologies LLC purchased a new position in shares of Bausch Health Companies during the second quarter worth $35,000. MQS Management LLC acquired a new position in Bausch Health Companies in the 2nd quarter valued at about $71,000. Certuity LLC purchased a new stake in Bausch Health Companies during the second quarter worth about $75,000. Bfsg LLC lifted 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 worth $80,000 after purchasing an additional 3,643 shares in the last quarter. Finally, Kendall Capital Management purchased a new position in shares of Bausch Health Companies in the second quarter valued at approximately $87,000. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Companies

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.