Bausch Health Companies (NYSE:BHC) Shares Gap Up - What's Next?

Bausch Health Companies Inc. (NYSE:BHC - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.72, but opened at $5.22. Bausch Health Companies shares last traded at $5.09, with a volume of 625,567 shares traded.

Wall Street Analysts Forecast Growth

BHC has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of Bausch Health Companies from $9.00 to $8.50 and set a "sector perform" rating on the stock in a research note on Monday, April 7th. Jefferies Financial Group restated a "hold" rating and set a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a research note on Thursday, February 6th. Finally, StockNews.com lowered Bausch Health Companies from a "buy" rating to a "hold" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, Bausch Health Companies has an average rating of "Hold" and an average target price of $7.17.

Bausch Health Companies Trading Down 1.1 %

The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -45.16, a PEG ratio of 0.37 and a beta of 0.43. The business has a 50-day moving average price of $6.23 and a two-hundred day moving average price of $7.31.

Bausch Health Companies (NYSE:BHC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.44). Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 577.82%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. On average, equities research analysts predict that Bausch Health Companies Inc. will post 4.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch Health Companies

A number of hedge funds have recently made changes to their positions in the business. Mountain Hill Investment Partners Corp. bought a new stake in Bausch Health Companies during the 4th quarter valued at $56,000. Wealthquest Corp bought a new stake in shares of Bausch Health Companies during the first quarter valued at about $58,000. Bank of Nova Scotia bought a new stake in shares of Bausch Health Companies during the fourth quarter valued at about $83,000. One68 Global Capital LLC acquired a new stake in Bausch Health Companies in the fourth quarter worth about $90,000. Finally, Balyasny Asset Management L.P. bought a new position in Bausch Health Companies in the 4th quarter valued at about $97,000. Institutional investors 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.