Bausch Health Companies (NYSE:BHC) Shares Gap Up – Here’s Why

Bausch Health Companies Inc. (NYSE:BHC) shares gapped up before the market opened on Thursday . The stock had previously closed at $6.51, but opened at $6.96. Bausch Health Companies shares last traded at $7.47, with a volume of 1,572,807 shares.

Analysts Set New Price Targets

BHC has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on shares of Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group reissued a “hold” rating and set a $8.00 price target (down previously from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. Finally, StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.42.

Bausch Health Companies Stock Performance

The company has a market capitalization of $2.64 billion, a PE ratio of -60.87, a P/E/G ratio of 0.38 and a beta of 0.68. The business has a fifty day moving average price of $7.35 and a 200 day moving average price of $7.48.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.44). Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 650.39%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Research analysts forecast that Bausch Health Companies Inc. will post 4.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch Health Companies

Several institutional investors and hedge funds have recently modified their holdings of the stock. LMR Partners LLP purchased a new stake in shares of Bausch Health Companies during the third quarter worth about $3,264,000. Intact Investment Management Inc. acquired a new stake in shares of Bausch Health Companies during the 3rd quarter valued at approximately $1,543,000. XTX Topco Ltd bought a new position in Bausch Health Companies during the third quarter worth $938,000. SG Americas Securities LLC boosted its holdings in Bausch Health Companies by 62.0% in the fourth quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company’s stock worth $26,614,000 after purchasing an additional 1,263,706 shares during the period. Finally, Range Financial Group LLC acquired a new position in Bausch Health Companies in the fourth quarter worth $1,004,000. Hedge funds and other institutional investors 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.