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

Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 10,260,000 shares, a growth of 9.9% from the November 15th total of 9,340,000 shares. Approximately 3.5% of the company's stock are short sold. Based on an average trading volume of 1,910,000 shares, the days-to-cover ratio is currently 5.4 days.

Institutional Investors Weigh In On Bausch Health Companies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Goldentree Asset Management LP raised its position in Bausch Health Companies by 31.0% during the 3rd 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 during the last quarter. Bank of Montreal Can raised its holdings in shares of Bausch Health Companies by 234.0% during 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 last quarter. Dimensional Fund Advisors LP lifted its position in Bausch Health Companies by 12.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,165,512 shares of the company's stock valued at $22,063,000 after purchasing an additional 341,936 shares during the period. 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 valued at $16,612,000 after purchasing an additional 1,252,834 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. acquired a new stake in Bausch Health Companies during the 3rd quarter worth about $16,850,000. Institutional investors and hedge funds own 78.65% of the company's stock.

Wall Street Analysts Forecast Growth

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

Bausch Health Companies Stock Performance

BHC stock traded up $0.06 during trading on Friday, reaching $7.81. The company had a trading volume of 876,693 shares, compared to its average volume of 2,784,071. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -16.27 and a beta of 0.69. Bausch Health Companies has a twelve month low of $3.96 and a twelve month high of $11.46. The firm has a 50-day simple moving average of $8.38 and a 200-day simple moving average of $7.25.

Bausch Health Companies (NYSE:BHC - Get Free Report) last posted its quarterly earnings data 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 net margin of 1.88% and a negative return on equity of 755.86%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. Sell-side analysts expect that Bausch Health Companies will post 3.74 earnings per share for the current 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.