Bausch Health Cos (NYSE:BHC) Shares Down 2.9% - Here's Why

Shares of Bausch Health Cos Inc. (NYSE:BHC - Get Free Report) fell 2.9% during trading on Monday . The company traded as low as $5.72 and last traded at $5.81. 705,733 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 2,604,550 shares. The stock had previously closed at $5.98.

Analysts Set New Price Targets

BHC has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Bausch Health Cos from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. Royal Bank Of Canada boosted their target price on shares of Bausch Health Cos from $8.50 to $10.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, Bausch Health Cos has a consensus rating of "Hold" and an average target price of $7.42.

Bausch Health Cos Trading Up 8.1%

The company's 50-day moving average price is $4.94 and its two-hundred day moving average price is $6.37. The company has a market cap of $2.29 billion, a P/E ratio of -56.30 and a beta of 0.28.

Insider Activity at Bausch Health Cos

In other news, Director John Paulson bought 754,134 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was purchased at an average price of $5.05 per share, for a total transaction of $3,808,376.70. Following the transaction, the director now owns 27,193,169 shares in the company, valued at approximately $137,325,503.45. This trade represents a 2.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 6,352,667 shares of company stock valued at $35,870,767 in the last quarter. Insiders own 8.05% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cary Street Partners Financial LLC bought a new position in Bausch Health Cos in the 1st quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in Bausch Health Cos in the 1st quarter worth about $27,000. SBI Securities Co. Ltd. grew its position in Bausch Health Cos by 244.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock worth $27,000 after purchasing an additional 3,001 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Bausch Health Cos in the 4th quarter worth about $56,000. Finally, Wealthquest Corp bought a new position in Bausch Health Cos in the 1st quarter worth about $58,000. Institutional investors own 78.65% of the company's stock.

Bausch Health Cos 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.