Bausch Health Companies Inc. (NYSE:BHC) Sees Significant Decrease in Short Interest

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BHC. Royal Bank of Canada decreased their price target on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Scotiabank reduced their target price on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Jefferies Financial Group dropped their price target on 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. 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.33.

Insider Buying and Selling at Bausch Health Companies

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Salem Investment Counselors Inc. purchased a new position in Bausch Health Companies during the 1st quarter valued at about $32,000. Headlands Technologies LLC purchased a new position in Bausch Health Companies in the second quarter valued at about $35,000. MQS Management LLC acquired a new position in Bausch Health Companies in the 2nd quarter worth about $71,000. Certuity LLC acquired a new position in Bausch Health Companies in the second quarter worth approximately $75,000. Finally, Bfsg LLC grew its position in 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 acquiring an additional 3,643 shares in the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.

Bausch Health Companies Price Performance

NYSE BHC traded down $0.01 on Tuesday, hitting $8.15. 234,550 shares of the company were exchanged, compared to its average volume of 3,083,095. Bausch Health Companies has a twelve month low of $3.96 and a twelve month high of $11.46. The company’s 50 day moving average price is $6.35 and its 200-day moving average price is $7.27. The firm has a market capitalization of $2.94 billion, a P/E ratio of -6.58 and a beta of 0.75.

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

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.