Bausch Health Companies (NYSE:BHC) Stock Price Down 2.8% - Time to Sell?

Shares of Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) dropped 2.8% on Friday . The stock traded as low as $8.10 and last traded at $8.13. Approximately 247,945 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,982,303 shares. The stock had previously closed at $8.36.

Analyst Upgrades and Downgrades

Several research firms recently commented on BHC. Scotiabank decreased their target price on 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. Raymond James initiated coverage on shares of Bausch Health Companies in a research note on Wednesday, July 10th. They issued a "market perform" rating and a $8.00 price objective for the company. Truist Financial reduced their price target on shares of Bausch Health Companies from $8.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, July 25th. Piper Sandler downgraded shares of Bausch Health Companies from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $9.00 to $3.00 in a research note on Friday, August 2nd. Finally, Jefferies Financial Group cut their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Bausch Health Companies presently has an average rating of "Hold" and a consensus target price of $7.33.

Bausch Health Companies Stock Down 2.3 %

The stock has a market capitalization of $2.95 billion, a P/E ratio of -6.61 and a beta of 0.77. The business's 50 day simple moving average is $6.96 and its two-hundred day simple moving average is $7.16.

Bausch Health Companies (NYSE:BHC - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.09. The business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.33 billion. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. During the same quarter last year, the firm earned $0.81 EPS. Analysts predict that Bausch Health Companies Inc. will post 3.61 earnings per share for the current year.

Insider Activity at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the firm'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 transaction, the executive vice president now directly owns 435,198 shares of the company's stock, valued at $2,702,579.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bausch Health Companies

Several institutional investors have recently modified their holdings of BHC. Salem Investment Counselors Inc. purchased a new position in Bausch Health Companies in the first quarter worth $32,000. Headlands Technologies LLC purchased a new position in shares of Bausch Health Companies in the 2nd quarter worth about $35,000. MQS Management LLC bought a new position in Bausch Health Companies during the second quarter valued at about $71,000. Certuity LLC bought a new position in Bausch Health Companies during the second quarter valued at about $75,000. Finally, Bfsg LLC increased its holdings in Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company's stock worth $80,000 after buying an additional 3,643 shares during the last quarter. 78.65% of the stock is 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.