Bausch Health Companies (NYSE:BHC) Sees Unusually-High Trading Volume – Still a Buy?

Bausch Health Companies Inc. (NYSE:BHC) shares saw an uptick in trading volume on Friday . 2,380,744 shares traded hands during trading, an increase of 69% from the previous session’s volume of 1,409,622 shares.The stock last traded at $7.64 and had previously closed at $7.65.

Wall Street Analyst Weigh In

Several research firms have recently commented on BHC. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada raised their price target 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. One research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.75.

Bausch Health Companies Stock Performance

The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -15.66 and a beta of 0.69. The company’s 50 day simple moving average is $7.99 and its 200 day simple moving average is $7.44.

Bausch Health Companies (NYSE:BHC) last posted 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. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the business earned $1.03 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts predict that Bausch Health Companies Inc. will post 3.73 EPS for the current year.

Institutional Trading of Bausch Health Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp grew its holdings in Bausch Health Companies by 111.0% during the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after acquiring an additional 1,252,834 shares during the period. LMR Partners LLP bought a new position in shares of Bausch Health Companies during the 3rd quarter valued at about $3,264,000. Clearline Capital LP acquired a new position in shares of Bausch Health Companies in the 2nd quarter worth approximately $6,881,000. Intact Investment Management Inc. bought a new stake in shares of Bausch Health Companies in the 3rd quarter worth approximately $1,543,000. Finally, XTX Topco Ltd acquired a new stake in Bausch Health Companies during the third quarter valued at approximately $938,000. 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.