Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 6,450,000 shares, a decrease of 17.0% from the February 13th total of 7,770,000 shares. Based on an average daily trading volume, of 2,440,000 shares, the short-interest ratio is currently 2.6 days. Currently, 2.2% of the shares of the stock are sold short.
Bausch Health Companies Price Performance
Shares of Bausch Health Companies stock traded up $0.04 on Friday, hitting $7.17. 2,541,532 shares of the company's stock traded hands, compared to its average volume of 2,709,678. The firm's 50-day moving average price is $7.14 and its two-hundred day moving average price is $7.68. The stock has a market capitalization of $2.64 billion, a PE ratio of -59.70, a price-to-earnings-growth ratio of 0.37 and a beta of 0.59. Bausch Health Companies has a one year low of $3.96 and a one year high of $11.46.
Bausch Health Companies (NYSE:BHC - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.44). The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.51 billion. Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. On average, analysts forecast that Bausch Health Companies will post 4.41 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Bausch Health Companies
Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldentree Asset Management LP raised its stake 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 period. Maple Rock Capital Partners Inc. raised its position in shares of Bausch Health Companies by 156.7% during the fourth quarter. Maple Rock Capital Partners Inc. now owns 5,300,000 shares of the company's stock worth $42,718,000 after purchasing an additional 3,235,100 shares during the period. Bank of Montreal Can lifted its holdings in shares of Bausch Health Companies by 234.0% during the 3rd quarter. Bank of Montreal Can now owns 3,833,179 shares of the company's stock valued at $31,598,000 after purchasing an additional 2,685,675 shares in the last quarter. Compass Rose Asset Management LP grew its position in shares of Bausch Health Companies by 366.7% in the 4th quarter. Compass Rose Asset Management LP now owns 2,100,000 shares of the company's stock valued at $16,926,000 after purchasing an additional 1,650,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Bausch Health Companies by 46.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company's stock worth $38,501,000 after purchasing an additional 1,510,445 shares in the last quarter. 78.65% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have weighed in on BHC shares. Royal Bank of Canada dropped their target price on shares of Bausch Health Companies from $11.00 to $10.00 and set a "sector perform" rating for the company in a research note on Thursday, January 30th. Jefferies Financial Group restated a "hold" rating and issued a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $7.42.
Read Our Latest Report on BHC
About Bausch Health Companies
(
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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.
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