Bausch Health Companies (BHC) Shares Gap Up to $26.32

Bausch Health Companies Inc (NYSE:BHC) gapped up before the market opened on Monday . The stock had previously closed at $25.79, but opened at $26.32. Bausch Health Companies shares last traded at $26.49, with a volume of 5231235 shares.

Several equities research analysts have recently commented on BHC shares. Zacks Investment Research upgraded 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 research note on Friday, September 7th. Piper Jaffray Companies set a $16.00 price objective on shares of Bausch Health Companies and gave the stock a “sell” rating in a research note on Tuesday, August 7th. Wells Fargo & Co reissued a “sell” rating on shares of Bausch Health Companies in a research note on Monday, August 6th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $32.00 price objective on shares of Bausch Health Companies in a research note on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $26.89.

The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 0.37 and a beta of -0.48. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 6.99.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.12. Bausch Health Companies had a negative net margin of 20.60% and a positive return on equity of 27.83%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.05 billion. Equities analysts anticipate that Bausch Health Companies Inc will post 3.47 earnings per share for the current year.

In related news, CEO Joseph C. Papa purchased 30,000 shares of the business’s stock in a transaction on Friday, September 14th. The shares were purchased at an average price of $22.32 per share, with a total value of $669,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Schutter Richard U. De purchased 125,000 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was bought at an average cost of $23.96 per share, for a total transaction of $2,995,000.00. The disclosure for this purchase can be found here. Insiders have 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 insiders.

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

Bausch Health Companies Company Profile (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.

Further Reading: Ex-Dividend

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