Bausch Health Cos (NYSE:BHC) Trading Down 4.1% - Here's What Happened

Key Points

• Bausch Health shares fell 4.1% to $6.6050 in mid-day trading, with volume about 29% above the average session level.
• Analyst sentiment remains cautious: MarketBeat reports a consensus rating of “Reduce” and an average price target of $8.00, with five Hold ratings and two Sell ratings.
• The company beat quarterly expectations, reporting $1.26 in adjusted earnings per share and $2.83 billion in revenue versus estimates of $0.96 and $2.59 billion, respectively; institutional investors own 78.65% of the stock.

Shares of Bausch Health Cos Inc. (NYSE:BHC - Get Free Report) were down 4.1% during mid-day trading on Monday . The company traded as low as $6.53 and last traded at $6.6050. 3,066,074 shares changed hands during trading, an increase of 29% from the average session volume of 2,373,392 shares. The stock had previously closed at $6.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BHC shares. Weiss Ratings upgraded Bausch Health Cos from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday. Jefferies Financial Group raised Bausch Health Cos to a "hold" rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada decreased their price target on Bausch Health Cos from $10.00 to $9.00 and set a "sector perform" rating on the stock in a research note on Monday, April 27th. Zacks Research lowered Bausch Health Cos from a "hold" rating to a "strong sell" rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded Bausch Health Cos from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $8.00.

Bausch Health Cos Price Performance

The stock has a market cap of $2.62 billion, a PE ratio of -2.34 and a beta of 0.42. The firm's 50-day moving average price is $4.99 and its two-hundred day moving average price is $5.46. The company has a current ratio of 1.44, a quick ratio of 1.08 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.30. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%.The firm had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.59 billion. On average, equities analysts expect that Bausch Health Cos Inc. will post 4.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the sale, the director directly owned 49,339 shares in the company, valued at approximately $267,910.77. This trade represents a 33.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BHC. Norges Bank acquired a new stake in Bausch Health Cos during the fourth quarter valued at $25,592,000. MUFG Securities EMEA plc purchased a new stake in shares of Bausch Health Cos during the 2nd quarter worth $22,644,000. Paulson & CO. Inc. lifted its position in shares of Bausch Health Cos by 3.5% during the 4th quarter. Paulson & CO. Inc. now owns 73,255,869 shares of the company's stock worth $509,128,000 after purchasing an additional 2,500,000 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Bausch Health Cos by 24.9% during the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company's stock worth $61,362,000 after purchasing an additional 2,262,894 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Bausch Health Cos by 65.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,143,641 shares of the company's stock valued at $35,748,000 after buying an additional 2,038,813 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company's stock.

About Bausch Health Cos

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.