Bausch Health Companies (NYSE:BHC) Stock Price Up 4.5% - Time to Buy?

Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) shot up 4.5% on Thursday . The stock traded as high as $5.57 and last traded at $5.57. 1,848,494 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 2,566,132 shares. The stock had previously closed at $5.33.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BHC. Royal Bank of Canada upped their price objective on shares of Bausch Health Companies from $8.50 to $10.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Wall Street Zen cut shares of Bausch Health Companies from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.42.

Bausch Health Companies Trading Up 3.4%

The firm's fifty day moving average price is $4.82 and its 200 day moving average price is $6.44. The firm has a market capitalization of $2.11 billion, a PE ratio of -47.37, a P/E/G ratio of 0.37 and a beta of 0.28.

Insider Activity

In other news, Director John Paulson acquired 1,005,376 shares of the business's stock in a transaction on Thursday, June 12th. The stock was bought at an average price of $5.47 per share, with a total value of $5,499,406.72. Following the completion of the acquisition, the director now owns 29,227,643 shares of the company's stock, valued at approximately $159,875,207.21. This represents a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought a total of 2,788,608 shares of company stock valued at $14,700,257 in the last three months. 8.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bausch Health Companies

A number of large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. increased its position in shares of Bausch Health Companies by 244.2% in the first quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock valued at $27,000 after buying an additional 3,001 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in Bausch Health Companies in the 1st quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Bausch Health Companies during the first quarter worth $27,000. Mountain Hill Investment Partners Corp. purchased a new position in Bausch Health Companies during the fourth quarter valued at $56,000. Finally, Wealthquest Corp acquired a new stake in shares of Bausch Health Companies in the first quarter valued at about $58,000. Institutional investors and hedge funds 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.