Bausch Health Cos (NYSE:BHC) Trading 6% Higher - What's Next?

Shares of Bausch Health Cos Inc. (NYSE:BHC - Get Free Report) traded up 6% during trading on Friday . The stock traded as high as $6.72 and last traded at $6.80. 452,546 shares changed 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.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Bausch Health Cos from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Royal Bank Of Canada raised their price target on shares of Bausch Health Cos from $8.50 to $10.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $7.42.

Bausch Health Cos Stock Performance

The business has a fifty day moving average of $5.11 and a 200-day moving average of $6.31. The company has a market capitalization of $2.45 billion, a P/E ratio of -60.32 and a beta of 0.28.

Insider Buying and Selling at Bausch Health Cos

In related news, Director John Paulson purchased 3,564,059 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was acquired at an average price of $5.94 per share, for a total transaction of $21,170,510.46. Following the completion of the acquisition, the director now owns 32,791,702 shares of the company's stock, valued at $194,782,709.88. This represents a 12.19% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders purchased 6,352,667 shares of company stock worth $35,870,767. Insiders own 8.05% of the company's stock.

Hedge Funds Weigh In On Bausch Health Cos

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in shares of Bausch Health Cos by 97.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 948,322 shares of the company's stock worth $6,136,000 after acquiring an additional 467,270 shares in the last quarter. Acadian Asset Management LLC grew its position in Bausch Health Cos by 4,134.7% in the 1st quarter. Acadian Asset Management LLC now owns 673,316 shares of the company's stock worth $4,347,000 after purchasing an additional 657,416 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Bausch Health Cos by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,847 shares of the company's stock valued at $2,102,000 after buying an additional 9,834 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Bausch Health Cos by 1,548.9% during the 1st quarter. Jones Financial Companies Lllp now owns 24,965 shares of the company's stock worth $162,000 after buying an additional 23,451 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Bausch Health Cos during the 1st quarter worth approximately $68,000. 78.65% of the stock is currently owned by institutional investors.

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.

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