Bausch Health Companies Inc. (NYSE:BHC) Sees Significant Decline in Short Interest

Bausch Health Companies Inc. (NYSE:BHC) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 6,450,000 shares, a decrease of 17.0% from the February 13th total of 7,770,000 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,440,000 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BHC shares. Jefferies Financial Group reiterated a “hold” rating and set a $8.00 price objective (down from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. Royal Bank of Canada decreased their price target on shares of Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Bausch Health Companies currently has an average rating of “Hold” and a consensus target price of $7.42.

Bausch Health Companies Price Performance

BHC stock traded down $0.02 during midday trading on Wednesday, reaching $7.00. The company had a trading volume of 1,831,993 shares, compared to its average volume of 2,706,144. The firm has a 50-day moving average price of $7.16 and a 200-day moving average price of $7.68. Bausch Health Companies has a 1 year low of $3.96 and a 1 year high of $11.46. The company has a market capitalization of $2.57 billion, a P/E ratio of -58.29, a P/E/G ratio of 0.37 and a beta of 0.59.

Bausch Health Companies (NYSE:BHC) last posted its earnings results 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). Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 577.82%. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.51 billion. On average, equities analysts predict that Bausch Health Companies will post 4.41 EPS for the current year.

Institutional Trading of Bausch Health Companies

Several institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in Bausch Health Companies by 0.3% in the 3rd quarter. CIBC Asset Management Inc now owns 374,729 shares of the company’s stock worth $3,060,000 after purchasing an additional 1,082 shares during the period. LMR Partners LLP purchased a new position in Bausch Health Companies in the 3rd quarter worth approximately $3,264,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bausch Health Companies by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,478 shares of the company’s stock worth $10,373,000 after buying an additional 42,539 shares in the last quarter. Cerity Partners LLC grew its position in shares of Bausch Health Companies by 14.4% during the third quarter. Cerity Partners LLC now owns 79,290 shares of the company’s stock valued at $647,000 after purchasing an additional 9,978 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Bausch Health Companies by 234.0% during the 3rd quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock valued at $31,598,000 after buying an additional 2,685,675 shares in the last quarter. 78.65% of the stock is owned by hedge funds and other 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.