Bausch Health Cos Sees Unusually Large Options Volume (NYSE:BHC)

Key Points

• Bausch Health Cos experienced a significant increase in options trading, with 4,141 call options acquired, raising volume by 93% compared to its average daily trading volume.
• Analysts have updated their price targets for Bausch Health, with Royal Bank of Canada raising its target from $8.50 to $10.00 and Wall Street Zen upgrading their rating from "hold" to "buy."
• Director John Paulson made a substantial investment by purchasing over 34 million shares at an average cost of $9.00, increasing his ownership by 96.35% to a total of approximately $636 million.

Bausch Health Cos Inc. (NYSE:BHC - Get Free Report) was the target of some unusual options trading activity on Friday. Investors acquired 4,141 call options on the company. Thisrepresentsanincreaseof93% compared to the average daily volume of 2,144 call options.

Analysts Set New Price Targets

Several research firms recently weighed in on BHC. Royal Bank Of Canada lifted their price objective on shares of Bausch Health Cos from $8.50 to $10.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Wall Street Zen raised shares of Bausch Health Cos from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd.

Insiders Place Their Bets

In other Bausch Health Cos news, Director John Paulson purchased 34,721,118 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $9.00 per share, for a total transaction of $312,490,062.00. Following the completion of the transaction, the director owned 70,755,869 shares of the company's stock, valued at approximately $636,802,821. The trade was a 96.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have acquired 44,316,834 shares of company stock worth $369,628,560. 8.05% of the stock is currently owned by insiders.

Institutional Trading of Bausch Health Cos

A number of hedge funds have recently added to or reduced their stakes in BHC. Toronto Dominion Bank increased its position in Bausch Health Cos by 1.0% during the fourth quarter. Toronto Dominion Bank now owns 167,212 shares of the company's stock worth $1,350,000 after purchasing an additional 1,712 shares during the last quarter. Wells Fargo & Company MN increased its position in Bausch Health Cos by 7.9% during the fourth quarter. Wells Fargo & Company MN now owns 25,907 shares of the company's stock worth $209,000 after purchasing an additional 1,896 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Bausch Health Cos by 244.2% during the first quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock valued at $27,000 after acquiring an additional 3,001 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Bausch Health Cos by 65.9% during the second quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company's stock valued at $51,000 after acquiring an additional 3,106 shares during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Bausch Health Cos during the first quarter valued at about $27,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

Bausch Health Cos Trading Up 5.8%

Bausch Health Cos stock traded up $0.44 during trading hours on Friday, hitting $7.95. The company had a trading volume of 5,536,493 shares, compared to its average volume of 2,676,107. The firm has a market cap of $2.94 billion, a P/E ratio of 30.67 and a beta of 0.41. The company has a debt-to-equity ratio of 141.90, a quick ratio of 0.98 and a current ratio of 1.31. Bausch Health Cos has a 1 year low of $4.25 and a 1 year high of $9.85. The company has a 50-day moving average price of $6.30 and a two-hundred day moving average price of $6.02.

Bausch Health Cos (NYSE:BHC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.07). The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.47 billion. Bausch Health Cos had a negative return on equity of 852.36% and a net margin of 0.99%. On average, sell-side analysts anticipate that Bausch Health Cos will post 4.41 earnings per share for the current year.

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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