Bausch Health Companies Inc. (NYSE:BHC) Short Interest Up 29.5% in March

Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 7,850,000 shares, an increase of 29.5% from the March 15th total of 6,060,000 shares. Based on an average trading volume of 2,740,000 shares, the short-interest ratio is presently 2.9 days. Currently, 2.7% of the company's stock are sold short.

Bausch Health Companies Stock Performance

Shares of NYSE:BHC traded up $0.10 during trading hours on Thursday, hitting $5.27. 361,838 shares of the company's stock traded hands, compared to its average volume of 2,702,066. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $9.85. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -43.87, a price-to-earnings-growth ratio of 0.37 and a beta of 0.43. The company's fifty day simple moving average is $6.27 and its two-hundred day simple moving average is $7.35.

Bausch Health Companies (NYSE:BHC - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate 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 anticipate that Bausch Health Companies will post 4.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Bausch Health Companies from a "buy" rating to a "hold" rating in a research report on Wednesday. Royal Bank of Canada reduced their price objective on Bausch Health Companies from $9.00 to $8.50 and set a "sector perform" rating on the stock in a research note on Monday, April 7th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $8.00 target price (down from $12.00) on shares of Bausch Health Companies in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat, Bausch Health Companies presently has a consensus rating of "Hold" and an average target price of $7.17.

Hedge Funds Weigh In On Bausch Health Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Bausch Health Companies by 20.5% during the third quarter. Geode Capital Management LLC now owns 636,082 shares of the company's stock worth $6,448,000 after buying an additional 108,269 shares during the last quarter. Range Financial Group LLC bought a new position in shares of Bausch Health Companies in the 4th quarter valued at approximately $1,004,000. Sanders Morris Harris LLC boosted its position in Bausch Health Companies by 16.0% during the fourth quarter. Sanders Morris Harris LLC now owns 28,975 shares of the company's stock worth $234,000 after purchasing an additional 4,000 shares during the period. Merit Financial Group LLC bought a new position in shares of Bausch Health Companies in the fourth quarter valued at approximately $228,000. Finally, SG Americas Securities LLC raised its holdings in Bausch Health Companies by 62.0% in the 4th quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company's stock worth $26,614,000 after acquiring an additional 1,263,706 shares during the period. 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.