Traders Buy High Volume of Bausch Health Companies Call Options (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the target of unusually large options trading activity on Wednesday. Investors bought 6,028 call options on the company. This is an increase of approximately 54% compared to the typical daily volume of 3,912 call options.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BHC. Tobam raised its stake in Bausch Health Companies by 10.4% in the 4th quarter. Tobam now owns 15,034 shares of the company’s stock valued at $121,000 after acquiring an additional 1,422 shares during the period. Toronto Dominion Bank increased its holdings in shares of Bausch Health Companies by 1.0% in the fourth quarter. Toronto Dominion Bank now owns 167,212 shares of the company’s stock valued at $1,350,000 after purchasing an additional 1,712 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Bausch Health Companies by 7.9% in the fourth quarter. Wells Fargo & Company MN now owns 25,907 shares of the company’s stock valued at $209,000 after purchasing an additional 1,896 shares during the period. American Century Companies Inc. lifted its stake in shares of Bausch Health Companies by 10.6% during the 4th quarter. American Century Companies Inc. now owns 27,236 shares of the company’s stock worth $220,000 after buying an additional 2,600 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Bausch Health Companies by 3.2% during the 4th quarter. Blair William & Co. IL now owns 84,707 shares of the company’s stock worth $683,000 after buying an additional 2,622 shares during the period. 78.65% of the stock is currently owned by institutional investors.

Bausch Health Companies Price Performance

Shares of BHC stock opened at $6.74 on Friday. The company has a fifty day moving average price of $7.09 and a two-hundred day moving average price of $7.70. Bausch Health Companies has a one year low of $3.96 and a one year high of $11.46. The stock has a market cap of $2.48 billion, a P/E ratio of -56.20, a P/E/G ratio of 0.37 and a beta of 0.59.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.44). The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 577.82%. As a group, equities research analysts anticipate that Bausch Health Companies will post 4.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BHC has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $8.00 target price (down previously from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. Royal Bank of Canada decreased their price objective on Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.42.

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.