Bausch Health Companies Inc. (NYSE:BHC) Sees Large Decline in Short Interest

Bausch Health Companies Inc. (NYSE:BHC) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 18,600,000 shares, a drop of 6.2% from the August 31st total of 19,830,000 shares. Currently, 5.8% of the company’s stock are short sold. Based on an average trading volume of 3,760,000 shares, the days-to-cover ratio is presently 4.9 days.

Insider Buying and Selling

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $6.21, for a total value of $83,027.70. Following the sale, the executive vice president now owns 435,198 shares in the company, valued at $2,702,579.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bausch Health Companies

A number of hedge funds have recently modified their holdings of the business. Salem Investment Counselors Inc. bought a new position in Bausch Health Companies in the 1st quarter worth $32,000. Headlands Technologies LLC bought a new stake in Bausch Health Companies during the 2nd quarter worth approximately $35,000. MQS Management LLC purchased a new position in Bausch Health Companies during the second quarter valued at approximately $71,000. Certuity LLC bought a new position in shares of Bausch Health Companies in the second quarter worth approximately $75,000. Finally, Bfsg LLC increased its stake in shares of Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after purchasing an additional 3,643 shares in the last quarter. Institutional investors own 78.65% of the company’s stock.

Analyst Ratings Changes

BHC has been the topic of a number of recent research reports. Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. Jefferies Financial Group cut their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a report on Friday, August 2nd. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Finally, Truist Financial decreased their price objective on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.33.

Bausch Health Companies Trading Up 1.3 %

Shares of BHC stock opened at $8.27 on Wednesday. Bausch Health Companies has a 12-month low of $3.96 and a 12-month high of $11.46. The stock has a market capitalization of $2.99 billion, a P/E ratio of -6.67 and a beta of 0.75. The firm’s 50 day moving average is $6.35 and its 200 day moving average is $7.27.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.89 by $0.09. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. As a group, equities analysts predict that Bausch Health Companies will post 3.61 earnings per share for the current year.

Bausch Health Companies 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.