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

Bausch Health Companies Inc. (NYSE:BHC - Get Free Report)'s share price 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

A number of research firms recently issued reports on BHC. StockNews.com lowered Bausch Health Companies from a "buy" rating to a "hold" rating in a research report on Wednesday. Jefferies Financial Group reaffirmed a "hold" rating and issued a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. Finally, Royal Bank of Canada cut their price objective on shares of Bausch Health Companies from $9.00 to $8.50 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.17.

Bausch Health Companies Trading Down 1.1 %

The stock has a market cap of $1.99 billion, a P/E ratio of -45.16, a price-to-earnings-growth ratio of 0.37 and a beta of 0.43. The stock's 50-day moving average is $6.23 and its 200-day moving average is $7.31.

Bausch Health Companies (NYSE:BHC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.44). Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 577.82%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. On average, equities analysts forecast that Bausch Health Companies Inc. will post 4.41 EPS for the current year.

Institutional Investors Weigh In On Bausch Health Companies

Several hedge funds and other institutional investors have recently bought and sold shares of BHC. Maple Rock Capital Partners Inc. boosted its holdings in 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 buying an additional 3,235,100 shares in the last quarter. Compass Rose Asset Management LP boosted its stake in shares of Bausch Health Companies by 366.7% during the 4th quarter. Compass Rose Asset Management LP now owns 2,100,000 shares of the company's stock worth $16,926,000 after acquiring an additional 1,650,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Bausch Health Companies by 46.3% in the 4th 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. SG Americas Securities LLC raised its position in shares of Bausch Health Companies by 62.0% during the fourth quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company's stock worth $26,614,000 after purchasing an additional 1,263,706 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in Bausch Health Companies by 989.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 611,890 shares of the company's stock worth $4,940,000 after buying an additional 555,709 shares during the period. 78.65% of the stock is currently owned by institutional investors.

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.