Bausch Health Companies (NYSE:BHC) Shares Gap Down – What’s Next?

Bausch Health Companies Inc. (NYSE:BHC)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $8.32, but opened at $8.10. Bausch Health Companies shares last traded at $7.60, with a volume of 497,445 shares trading hands.

Analyst Upgrades and Downgrades

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

Bausch Health Companies Stock Performance

The firm has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $7.23.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.02 by $0.10. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the company earned $1.03 earnings per share. Bausch Health Companies’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities analysts anticipate that Bausch Health Companies Inc. will post 3.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bausch Health Companies

A number of hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc raised its stake in shares of Bausch Health Companies by 0.3% during the 3rd quarter. CIBC Asset Management Inc now owns 374,729 shares of the company’s stock worth $3,060,000 after buying an additional 1,082 shares during the period. Bfsg LLC raised its position in Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after acquiring an additional 3,643 shares during the period. Northwest & Ethical Investments L.P. lifted its holdings in Bausch Health Companies by 13.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 32,384 shares of the company’s stock valued at $264,000 after purchasing an additional 3,734 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bausch Health Companies by 6.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock valued at $423,000 after purchasing an additional 3,923 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Bausch Health Companies by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company’s stock valued at $1,719,000 after purchasing an additional 4,944 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.

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.