Bausch Health Companies (BHC) Shares Gap Down to $24.34

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Bausch Health Companies Inc (NYSE:BHC)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $24.88, but opened at $24.34. Bausch Health Companies shares last traded at $24.12, with a volume of 5951852 shares traded.

BHC has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Wednesday, October 3rd. ValuEngine lowered shares of Bausch Health Companies from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Piper Jaffray Companies set a $16.00 target price on shares of Bausch Health Companies and gave the company a “sell” rating in a report on Tuesday, August 7th. Wells Fargo & Co reaffirmed a “sell” rating on shares of Bausch Health Companies in a report on Monday, August 6th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $32.00 target price on shares of Bausch Health Companies in a report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $26.89.

The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 6.99. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 0.37 and a beta of -0.48.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Tuesday, August 7th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.12. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.05 billion. Bausch Health Companies had a negative net margin of 20.60% and a positive return on equity of 27.83%. As a group, analysts predict that Bausch Health Companies Inc will post 3.47 EPS for the current year.

In related news, Director Schutter Richard U. De purchased 125,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were purchased at an average price of $23.96 per share, with a total value of $2,995,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Paul Herendeen purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was bought at an average cost of $22.61 per share, for a total transaction of $226,100.00. The disclosure for this purchase can be found here. Insiders purchased a total of 165,000 shares of company stock worth $3,890,700 in the last three months. 11.54% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in BHC. Tobam acquired a new stake in Bausch Health Companies in the 2nd quarter valued at $13,886,000. Point View Wealth Management Inc. acquired a new stake in Bausch Health Companies in the 2nd quarter valued at $1,132,000. Private Management Group Inc. acquired a new stake in Bausch Health Companies in the 2nd quarter valued at $28,474,000. Van ECK Associates Corp acquired a new stake in Bausch Health Companies in the 2nd quarter valued at $11,494,000. Finally, Marshall Wace LLP acquired a new stake in Bausch Health Companies in the 2nd quarter valued at $2,974,000. 43.16% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Companies (NYSE:BHC)

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. It offers dermatology products that treat a range of conditions, including actinic keratosis, acne, atopic dermatitis, psoriasis, cold sores, athlete's foot, nail fungus, and other dermatoses, as well as provides aesthetic medical devices, which address various conditions, including facial wrinkles, acne, pigmentation conditions, body sculpting, skin tightening, and laser hair removal.

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