Bausch Health Companies (NYSE:BHC) Shares Gap Up – Still a Buy?

Bausch Health Companies Inc. (NYSE:BHC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $6.51, but opened at $6.96. Bausch Health Companies shares last traded at $7.47, with a volume of 1,572,807 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Jefferies Financial Group reissued 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, Royal Bank of Canada reduced their price objective on shares of Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.42.

Bausch Health Companies Stock Performance

The stock has a market capitalization of $2.62 billion, a PE ratio of -15.17, a P/E/G ratio of 0.33 and a beta of 0.68. The firm has a 50 day moving average of $7.37 and a 200-day moving average of $7.47.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.44). The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. On average, sell-side analysts predict that Bausch Health Companies Inc. will post 3.73 earnings per share for the current year.

Institutional Trading of Bausch Health Companies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new position in Bausch Health Companies in the 4th quarter worth about $56,000. Bank of Nova Scotia acquired a new position in Bausch Health Companies in the fourth quarter worth approximately $83,000. One68 Global Capital LLC acquired a new position in Bausch Health Companies in the fourth quarter worth approximately $90,000. Balyasny Asset Management L.P. bought a new position in Bausch Health Companies during the fourth quarter valued at approximately $97,000. Finally, Alpine Global Management LLC acquired a new stake in Bausch Health Companies in the fourth quarter valued at approximately $114,000. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

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.