Traders Purchase High Volume of Bausch Health Companies Put Options (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) saw unusually large options trading on Thursday. Stock traders acquired 65,522 put options on the company. This represents an increase of approximately 1,339% compared to the average daily volume of 4,552 put options.

Insider Buying and Selling

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the sale, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Bausch Health Companies

Several large investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Bausch Health Companies during the second quarter valued at approximately $35,000. MQS Management LLC bought a new stake in Bausch Health Companies during the 2nd quarter worth approximately $71,000. Certuity LLC purchased a new position in Bausch Health Companies during the second quarter valued at approximately $75,000. Bfsg LLC boosted its position in shares of Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company's stock worth $80,000 after purchasing an additional 3,643 shares during the period. Finally, Kendall Capital Management purchased a new stake in shares of Bausch Health Companies in the second quarter worth $87,000. Institutional investors own 78.65% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Raymond James started coverage on shares of Bausch Health Companies in a report on Wednesday, July 10th. They issued a "market perform" rating and a $8.00 target price on the stock. Royal Bank of Canada lowered their price objective on shares of Bausch Health Companies from $10.00 to $8.50 and set a "sector perform" rating for the company in a research note on Friday, August 2nd. Evercore ISI upgraded Bausch Health Companies to a "hold" rating in a report on Tuesday, October 15th. Piper Sandler cut Bausch Health Companies from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $9.00 to $3.00 in a report on Friday, August 2nd. Finally, Truist Financial decreased their target price on Bausch Health Companies from $8.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $7.33.

Bausch Health Companies Price Performance

Bausch Health Companies stock traded up $1.04 during mid-day trading on Thursday, reaching $9.21. The stock had a trading volume of 7,666,080 shares, compared to its average volume of 2,941,239. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of -7.31 and a beta of 0.77. Bausch Health Companies has a one year low of $3.96 and a one year high of $11.46. The company has a 50-day moving average price of $7.41 and a two-hundred day moving average price of $7.05.

Bausch Health Companies (NYSE:BHC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.09. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the company posted $1.03 earnings per share. The company's quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts anticipate that Bausch Health Companies will post 3.61 earnings per share for the current fiscal year.

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.