Bausch Health Companies (NYSE:BHC) Shares Gap Down – Time to Sell?

Shares of 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.

Wall Street Analysts Forecast Growth

BHC has been the subject of a number of recent research reports. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. Royal Bank of Canada upped their price objective on shares of 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, StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.75.

Bausch Health Companies Stock Performance

The stock’s fifty day simple moving average is $8.41 and its two-hundred day simple moving average is $7.22. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -15.79 and a beta of 0.69.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share 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 revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Analysts predict that Bausch Health Companies Inc. will post 3.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch Health Companies

Several large investors have recently made changes to their positions in BHC. Geode Capital Management LLC grew its stake in shares of Bausch Health Companies by 20.5% in the third quarter. Geode Capital Management LLC now owns 636,082 shares of the company’s stock valued at $6,448,000 after buying an additional 108,269 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Bausch Health Companies during the third quarter valued at approximately $938,000. Readystate Asset Management LP lifted its position in shares of Bausch Health Companies by 38.1% during the third quarter. Readystate Asset Management LP now owns 470,761 shares of the company’s stock worth $3,841,000 after purchasing an additional 130,000 shares in the last quarter. Redwood Investment Management LLC boosted its stake in shares of Bausch Health Companies by 7.5% in the third quarter. Redwood Investment Management LLC now owns 460,417 shares of the company’s stock valued at $3,803,000 after purchasing an additional 31,976 shares during the period. Finally, Maple Rock Capital Partners Inc. acquired a new stake in Bausch Health Companies during the 3rd quarter valued at $16,850,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

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.