Bausch Health Companies Inc. (NYSE:BHC) Short Interest Update

Bausch Health Companies Inc. (NYSE:BHC) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 19,720,000 shares, an increase of 7.9% from the July 15th total of 18,270,000 shares. Based on an average daily trading volume, of 3,860,000 shares, the short-interest ratio is currently 5.1 days. Approximately 5.5% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BHC. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Truist Financial cut their target price on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $9.00 to $3.00 in a report on Friday, August 2nd. Royal Bank of Canada lowered their price target on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, Jefferies Financial Group lowered their price target on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.33.

Bausch Health Companies Price Performance

NYSE:BHC traded up $0.02 during trading hours on Monday, reaching $5.75. 684,969 shares of the company traded hands, compared to its average volume of 3,176,961. The firm’s 50-day moving average is $6.51 and its 200-day moving average is $7.73. The stock has a market cap of $2.08 billion, a P/E ratio of -4.64 and a beta of 0.77. Bausch Health Companies has a 1-year low of $3.96 and a 1-year high of $11.46.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Bausch Health Companies had a negative return on equity of 813.85% and a negative net margin of 5.12%. During the same quarter in the prior year, the firm earned $0.81 EPS. As a group, research analysts predict that Bausch Health Companies will post 3.58 earnings per share for the current year.

Institutional Investors Weigh In On Bausch Health Companies

Hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. acquired a new stake in shares of Bausch Health Companies during the first quarter worth $32,000. Principal Securities Inc. acquired a new stake in shares of Bausch Health Companies during the fourth quarter worth $31,000. Headlands Technologies LLC acquired a new stake in shares of Bausch Health Companies during the second quarter worth $35,000. Tower Research Capital LLC TRC boosted its holdings in shares of Bausch Health Companies by 283.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after purchasing an additional 5,112 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Bausch Health Companies during the fourth quarter worth $63,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

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.