Bausch Health Companies Sees Unusually High Options Volume (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 27,740 put options on the company. This represents an increase of 409% compared to the typical daily volume of 5,445 put options.

Wall Street Analyst Weigh In

Several analysts have recently commented on BHC shares. Scotiabank lowered their price target on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Piper Sandler downgraded Bausch Health Companies from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $9.00 to $3.00 in a research report on Friday, August 2nd. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Evercore ISI raised Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group cut their target price on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.75.

Insider Activity at Bausch Health Companies

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 435,198 shares in the company, valued at approximately $2,702,579.58. This represents a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bausch Health Companies

Institutional investors have recently made changes to their positions in the company. Goldentree Asset Management LP increased its stake in shares of Bausch Health Companies by 31.0% in the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock worth $239,552,000 after purchasing an additional 6,958,717 shares during the period. Bank of Montreal Can increased its position in Bausch Health Companies by 234.0% in the 3rd quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock worth $31,598,000 after buying an additional 2,685,675 shares during the period. Maple Rock Capital Partners Inc. acquired a new position in shares of Bausch Health Companies during the third quarter worth approximately $16,850,000. Mackenzie Financial Corp boosted its position in shares of Bausch Health Companies by 111.0% in the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock valued at $16,612,000 after acquiring an additional 1,252,834 shares during the period. Finally, Clearline Capital LP acquired a new stake in shares of Bausch Health Companies in the second quarter worth $6,881,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Companies Trading Up 2.9 %

Shares of NYSE:BHC opened at $8.12 on Thursday. The firm’s 50 day moving average is $8.40 and its two-hundred day moving average is $7.12. The firm has a market capitalization of $2.99 billion, a P/E ratio of -16.44 and a beta of 0.74. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. Analysts predict 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.