Bausch Health Cos (NYSE:BHC) Trading Up 6% - Here's What Happened

Bausch Health Cos Inc. (NYSE:BHC - Get Free Report)'s share price traded up 6% during trading on Friday . The stock traded as high as $6.72 and last traded at $6.80. 452,546 shares traded hands during trading, a decline of 83% from the average session volume of 2,612,825 shares. The stock had previously closed at $6.41.

Wall Street Analysts Forecast Growth

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

Bausch Health Cos Trading Up 3.4%

The business has a fifty day moving average of $5.14 and a 200-day moving average of $6.27. The company has a market cap of $2.47 billion, a PE ratio of -60.73 and a beta of 0.28.

Insider Activity

In other news, Director John Paulson bought 3,564,059 shares of the firm's stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $5.94 per share, with a total value of $21,170,510.46. Following the completion of the acquisition, the director owned 32,791,702 shares of the company's stock, valued at approximately $194,782,709.88. This represents a 12.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 6,352,667 shares of company stock valued at $35,870,767. 8.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Bausch Health Cos

Large investors have recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its holdings in Bausch Health Cos by 18.4% in the fourth quarter. Handelsbanken Fonder AB now owns 65,100 shares of the company's stock worth $525,000 after purchasing an additional 10,100 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Bausch Health Cos by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,284,036 shares of the company's stock valued at $10,375,000 after acquiring an additional 14,558 shares during the period. Aigen Investment Management LP purchased a new position in Bausch Health Cos in the fourth quarter worth about $180,000. Raymond James Financial Inc. purchased a new stake in Bausch Health Cos during the fourth quarter valued at approximately $180,000. Finally, Kendall Capital Management boosted its stake in shares of Bausch Health Cos by 43.4% during the 4th quarter. Kendall Capital Management now owns 17,995 shares of the company's stock worth $145,000 after acquiring an additional 5,445 shares during the last quarter. 78.65% of the stock is currently owned by institutional investors.

About Bausch Health Cos

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.