Bausch Health Companies (NYSE:BHC) Shares Gap Up - Time to Buy?

Shares of Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $6.51, but opened at $6.96. Bausch Health Companies shares last traded at $7.47, with a volume of 1,572,807 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BHC shares. Royal Bank of Canada decreased their price objective on Bausch Health Companies from $11.00 to $10.00 and set a "sector perform" rating for the company in a report on Thursday, January 30th. Jefferies Financial Group reiterated a "hold" rating and issued a $8.00 price target (down from $12.00) on shares of Bausch Health Companies in a research note on Thursday, February 6th. Finally, StockNews.com raised Bausch Health Companies from a "hold" rating to a "buy" rating in a report on Friday, October 25th. One equities 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $7.42.

Bausch Health Companies Stock Performance

The stock has a 50 day moving average of $7.35 and a 200-day moving average of $7.48. The company has a market cap of $2.64 billion, a PE ratio of -60.87, a price-to-earnings-growth ratio of 0.34 and a beta of 0.68.

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 (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.44). The firm had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.51 billion. Bausch Health Companies had a negative return on equity of 650.39% and a negative net margin of 0.48%. Equities research analysts forecast that Bausch Health Companies Inc. will post 4.31 EPS for the current year.

Institutional Trading of Bausch Health Companies

Several institutional investors and hedge funds have recently bought and sold shares of the business. LMR Partners LLP purchased a new position in shares of Bausch Health Companies during the third quarter worth $3,264,000. Intact Investment Management Inc. acquired a new stake in Bausch Health Companies during the 3rd quarter worth about $1,543,000. XTX Topco Ltd purchased a new position in shares of Bausch Health Companies during the 3rd quarter valued at about $938,000. SG Americas Securities LLC lifted 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 valued at $26,614,000 after buying an additional 1,263,706 shares during the period. Finally, Range Financial Group LLC acquired a new position in shares of Bausch Health Companies in the 4th quarter valued at about $1,004,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

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.