Bausch Health Companies (NYSE:BHC) Shares Gap Up - Here's What Happened

Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.72, but opened at $5.22. Bausch Health Companies shares last traded at $5.09, with a volume of 625,567 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $8.00 price target (down previously from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. StockNews.com lowered Bausch Health Companies from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Royal Bank of Canada dropped their price target on Bausch Health Companies from $9.00 to $8.50 and set a "sector perform" rating for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat.com, Bausch Health Companies has an average rating of "Hold" and an average price target of $7.17.

Bausch Health Companies Price Performance

The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -44.54, a P/E/G ratio of 0.37 and a beta of 0.43. The business's 50-day moving average price is $6.25 and its two-hundred day moving average price is $7.34.

Bausch Health Companies (NYSE:BHC - Get Free Report) last announced 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 analyst estimates of $2.51 billion. Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. Equities analysts predict that Bausch Health Companies Inc. will post 4.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Bausch Health Companies by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company's stock worth $94,460,000 after purchasing an additional 145,078 shares during the last quarter. Franklin Resources Inc. lifted its stake in Bausch Health Companies by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 5,316,822 shares of the company's stock valued at $42,855,000 after buying an additional 56,446 shares during the last quarter. Maple Rock Capital Partners Inc. boosted its holdings 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 valued at $42,718,000 after acquiring an additional 3,235,100 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Bausch Health Companies by 46.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company's stock worth $38,501,000 after acquiring an additional 1,510,445 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of 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.