Bausch Health Companies (NYSE:BHC) Shares Down 5.2% – What’s Next?

Bausch Health Companies Inc. (NYSE:BHC)’s share price was down 5.2% during trading on Monday . The stock traded as low as $7.01 and last traded at $7.05. Approximately 488,195 shares changed hands during trading, a decline of 85% from the average daily volume of 3,154,331 shares. The stock had previously closed at $7.43.

Wall Street Analyst Weigh In

BHC has been the topic of a number of research reports. Royal Bank of Canada dropped their price objective on Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Thursday. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. 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 analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bausch Health Companies has a consensus rating of “Hold” and an average target price of $7.58.

Bausch Health Companies Trading Down 2.9 %

The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -15.03 and a beta of 0.69. The stock has a fifty day moving average price of $7.76 and a 200-day moving average price of $7.46.

Hedge Funds Weigh In On Bausch Health Companies

A number of institutional investors and hedge funds have recently bought and sold shares of BHC. Tobam raised its position in Bausch Health Companies by 10.4% in the 4th quarter. Tobam now owns 15,034 shares of the company’s stock worth $121,000 after purchasing an additional 1,422 shares during the last quarter. DGS Capital Management LLC bought a new stake in shares of Bausch Health Companies during the fourth quarter worth $143,000. Principal Securities Inc. lifted its stake in shares of Bausch Health Companies by 39.7% during the fourth quarter. Principal Securities Inc. now owns 19,220 shares of the company’s stock valued at $155,000 after acquiring an additional 5,464 shares during the period. International Assets Investment Management LLC bought a new position in Bausch Health Companies in the third quarter valued at about $1,910,000. Finally, Merit Financial Group LLC acquired a new stake in Bausch Health Companies in the fourth quarter worth about $228,000. 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.