Bausch Health Companies (NYSE:BHC) Shares Down 2.9% - Should You Sell?

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BHC shares. Royal Bank of Canada boosted their target price on shares of Bausch Health Companies from $8.50 to $10.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Wall Street Zen cut Bausch Health Companies from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Bausch Health Companies has a consensus rating of "Hold" and an average target price of $7.42.

Bausch Health Companies Price Performance

The stock has a market capitalization of $2.12 billion, a P/E ratio of -47.76, a price-to-earnings-growth ratio of 0.37 and a beta of 0.28. The company's 50-day simple moving average is $4.87 and its 200-day simple moving average is $6.39.

Insiders Place Their Bets

In other Bausch Health Companies news, Director John Paulson bought 754,134 shares of Bausch Health Companies stock in a transaction dated Tuesday, June 10th. The stock was bought at an average cost of $5.05 per share, with a total value of $3,808,376.70. Following the completion of the acquisition, the director now directly owns 27,193,169 shares in the company, valued at approximately $137,325,503.45. The trade was a 2.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 2,788,608 shares of company stock valued at $14,700,257. Corporate insiders own 8.05% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nomura Holdings Inc. raised its stake in shares of Bausch Health Companies by 106.2% during the 1st quarter. Nomura Holdings Inc. now owns 23,395,000 shares of the company's stock worth $151,366,000 after purchasing an additional 12,050,000 shares during the period. Vanguard Group Inc. raised its position in Bausch Health Companies by 0.5% in the first quarter. Vanguard Group Inc. now owns 11,746,480 shares of the company's stock worth $76,152,000 after acquiring an additional 61,621 shares during the period. Franklin Resources Inc. grew its position in shares of Bausch Health Companies by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 5,316,822 shares of the company's stock valued at $42,855,000 after acquiring an additional 56,446 shares during the period. Maple Rock Capital Partners Inc. increased its stake in shares of Bausch Health Companies by 156.7% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 5,300,000 shares of the company's stock worth $42,718,000 after purchasing an additional 3,235,100 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Bausch Health Companies by 46.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company's stock worth $38,501,000 after purchasing an additional 1,510,445 shares during the period. Hedge funds and other 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.