Bausch Health Companies (NYSE:BHC) Shares Gap Up – What’s Next?

Bausch Health Companies Inc. (NYSE:BHC)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.72, but opened at $5.22. Bausch Health Companies shares last traded at $5.09, with a volume of 625,567 shares traded.

Wall Street Analysts Forecast Growth

BHC has been the topic of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of Bausch Health Companies from $9.00 to $8.50 and set a “sector perform” rating on the stock in a report on Monday, April 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $8.00 price target (down previously from $12.00) on shares of Bausch Health Companies in a research note on Thursday, February 6th. Finally, StockNews.com lowered shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.17.

Bausch Health Companies Price Performance

The company’s 50 day moving average price is $6.27 and its 200 day moving average price is $7.35. The firm has a market cap of $1.91 billion, a PE ratio of -43.16, a price-to-earnings-growth ratio of 0.37 and a beta of 0.43.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.44). Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Sell-side analysts expect that Bausch Health Companies Inc. will post 4.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BHC. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Bausch Health Companies during the 4th quarter worth $56,000. Wealthquest Corp acquired a new position in shares of Bausch Health Companies during the 1st quarter worth about $58,000. Bank of Nova Scotia acquired a new position in shares of Bausch Health Companies during the 4th quarter worth about $83,000. One68 Global Capital LLC acquired a new stake in shares of Bausch Health Companies during the 4th quarter worth about $90,000. Finally, Balyasny Asset Management L.P. acquired a new position in Bausch Health Companies in the fourth quarter valued at approximately $97,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

About Bausch Health Companies

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.