Traders Purchase Large Volume of Put Options on Bausch Health Companies (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the recipient of unusually large options trading on Tuesday. Traders purchased 27,740 put options on the stock. This is an increase of approximately 409% compared to the average daily volume of 5,445 put options.

Insider Transactions at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the completion of the transaction, the executive vice president now owns 435,198 shares of the company’s stock, valued at $2,702,579.58. The trade was a 2.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Bausch Health Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Bausch Health Companies by 20.5% during the 3rd quarter. Geode Capital Management LLC now owns 636,082 shares of the company’s stock valued at $6,448,000 after acquiring an additional 108,269 shares during the period. XTX Topco Ltd bought a new position in shares of Bausch Health Companies during the 3rd quarter valued at approximately $938,000. Readystate Asset Management LP grew its stake in shares of Bausch Health Companies by 38.1% during the 3rd quarter. Readystate Asset Management LP now owns 470,761 shares of the company’s stock valued at $3,841,000 after acquiring an additional 130,000 shares during the period. Redwood Investment Management LLC grew its stake in shares of Bausch Health Companies by 7.5% during the 3rd quarter. Redwood Investment Management LLC now owns 460,417 shares of the company’s stock valued at $3,803,000 after acquiring an additional 31,976 shares during the period. Finally, Maple Rock Capital Partners Inc. bought a new position in shares of Bausch Health Companies during the 3rd quarter valued at approximately $16,850,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Stock Down 0.8 %

NYSE BHC opened at $7.89 on Wednesday. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The firm has a market capitalization of $2.90 billion, a P/E ratio of -16.21 and a beta of 0.74. The company has a 50-day moving average price of $8.39 and a 200-day moving average price of $7.11.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Bausch Health Companies will post 3.74 EPS for the current year.

Analyst Ratings Changes

BHC has been the subject of a number of recent analyst reports. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Jefferies Financial Group decreased their target price on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Scotiabank decreased their target price on 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. Royal Bank of Canada boosted their target price on Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $9.00 to $3.00 in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.75.

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.