Bausch Health Companies Inc (NYSE:BHC) Short Interest Update

Bausch Health Companies Inc (NYSE:BHC) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 18,100,000 shares, an increase of 20.5% from the December 15th total of 15,020,000 shares. Based on an average trading volume of 3,920,000 shares, the short-interest ratio is presently 4.6 days. Currently, 5.2% of the shares of the stock are sold short.

A number of brokerages have weighed in on BHC. HC Wainwright reiterated a “buy” rating and issued a $60.00 price objective on shares of Bausch Health Companies in a research report on Monday, December 23rd. Wells Fargo & Co reiterated a “sell” rating on shares of Bausch Health Companies in a research report on Tuesday, September 17th. TheStreet upgraded shares of Bausch Health Companies from a “d+” rating to a “c” rating in a research report on Thursday, December 12th. Barclays upped their price objective on shares of Bausch Health Companies from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Goldman Sachs Group began coverage on shares of Bausch Health Companies in a research report on Monday, December 2nd. They issued a “neutral” rating and a $30.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. Bausch Health Companies currently has an average rating of “Buy” and an average price target of $32.53.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Bausch Health Companies by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,513,863 shares of the company’s stock worth $239,940,000 after purchasing an additional 363,579 shares during the last quarter. Ardevora Asset Management LLP grew its stake in Bausch Health Companies by 7.1% during the 3rd quarter. Ardevora Asset Management LLP now owns 1,916,320 shares of the company’s stock valued at $41,872,000 after acquiring an additional 127,800 shares in the last quarter. Alberta Investment Management Corp grew its stake in Bausch Health Companies by 5.9% during the 3rd quarter. Alberta Investment Management Corp now owns 1,376,500 shares of the company’s stock valued at $30,046,000 after acquiring an additional 76,100 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in Bausch Health Companies by 41.7% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,040,790 shares of the company’s stock valued at $22,741,000 after acquiring an additional 306,304 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Bausch Health Companies by 2.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 752,993 shares of the company’s stock valued at $16,436,000 after acquiring an additional 17,758 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Shares of BHC traded up $0.40 during mid-day trading on Tuesday, hitting $28.52. 3,914,407 shares of the company were exchanged, compared to its average volume of 3,145,345. Bausch Health Companies has a 1-year low of $18.72 and a 1-year high of $31.97. The company has a debt-to-equity ratio of 9.17, a quick ratio of 0.86 and a current ratio of 1.15. The company has a 50 day moving average of $29.21 and a 200-day moving average of $24.79. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 0.57 and a beta of 0.91.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Monday, November 4th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.13. Bausch Health Companies had a negative net margin of 7.25% and a positive return on equity of 56.19%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.15 billion. Research analysts anticipate that Bausch Health Companies will post 4.38 earnings per share for the current fiscal year.

About Bausch Health Companies

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.

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