Bausch Health Companies Inc. (NYSE:BHC) Short Interest Up 9.9% in November

Bausch Health Companies Inc. (NYSE:BHC) was the target of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 10,260,000 shares, an increase of 9.9% from the November 15th total of 9,340,000 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily volume of 1,910,000 shares, the days-to-cover ratio is presently 5.4 days.

Hedge Funds Weigh In On Bausch Health Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in shares of Bausch Health Companies during the 2nd quarter valued at about $35,000. MQS Management LLC purchased a new stake in Bausch Health Companies in the second quarter valued at approximately $71,000. Certuity LLC bought a new stake in Bausch Health Companies during the second quarter valued at approximately $75,000. Bfsg LLC grew its stake in Bausch Health Companies by 46.7% in the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after buying an additional 3,643 shares in the last quarter. Finally, Kendall Capital Management purchased a new position in Bausch Health Companies in the 2nd quarter worth approximately $87,000. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BHC. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted their target price on shares of Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bausch Health Companies presently has an average rating of “Hold” and an average target price of $7.75.

Bausch Health Companies Trading Down 2.0 %

Shares of NYSE:BHC opened at $7.66 on Tuesday. The company has a 50 day moving average of $8.37 and a 200 day moving average of $7.26. The stock has a market cap of $2.77 billion, a P/E ratio of -15.95 and a beta of 0.69. Bausch Health Companies has a 12 month low of $3.96 and a 12 month high of $11.46.

Bausch Health Companies (NYSE:BHC) last announced 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. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. On average, equities analysts forecast that Bausch Health Companies will post 3.74 earnings per share for the current fiscal year.

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.