Stock Traders Buy High Volume of Put Options on Bausch Health Companies (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the target of some unusual options trading activity on Tuesday. Investors bought 27,740 put options on the company. This is an increase of 409% compared to the typical daily volume of 5,445 put options.

Insider Activity

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

Institutional Trading of Bausch Health Companies

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldentree Asset Management LP grew its position in shares of Bausch Health Companies by 31.0% during the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock worth $239,552,000 after buying an additional 6,958,717 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Bausch Health Companies by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,713,993 shares of the company’s stock worth $124,285,000 after purchasing an additional 114,862 shares during the period. Bank of Montreal Can boosted its holdings in Bausch Health Companies by 234.0% in the third quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock worth $31,598,000 after purchasing an additional 2,685,675 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Bausch Health Companies by 12.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,165,512 shares of the company’s stock worth $22,063,000 after purchasing an additional 341,936 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Bausch Health Companies by 111.0% in the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after purchasing an additional 1,252,834 shares during the period. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Companies Trading Down 2.1 %

Shares of NYSE BHC traded down $0.17 on Tuesday, reaching $7.78. 1,238,293 shares of the company traded hands, compared to its average volume of 2,851,322. Bausch Health Companies has a fifty-two week low of $3.96 and a fifty-two week high of $11.46. The company has a 50 day moving average of $8.39 and a 200 day moving average of $7.11. The stock has a market capitalization of $2.86 billion, a PE ratio of -16.60 and a beta of 0.74.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, research analysts expect that Bausch Health Companies will post 3.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Piper Sandler lowered shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $9.00 to $3.00 in a research report on Friday, August 2nd. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. Scotiabank cut their target price on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Finally, Jefferies Financial Group cut their target price on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.75.

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.