Traders Buy Large Volume of Bausch Health Companies Call Options (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the target of unusually large options trading activity on Wednesday. Traders acquired 6,028 call options on the company. This is an increase of 54% compared to the typical daily volume of 3,912 call options.

Hedge Funds Weigh In On Bausch Health Companies

A number of institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Bausch Health Companies during the 4th quarter worth about $468,000. Jefferies Financial Group Inc. grew its holdings in shares of Bausch Health Companies by 12.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 450,000 shares of the company’s stock worth $3,627,000 after buying an additional 50,000 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Bausch Health Companies by 3.3% in the fourth quarter. Mackenzie Financial Corp now owns 208,106 shares of the company’s stock valued at $1,680,000 after buying an additional 6,591 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Bausch Health Companies during the fourth quarter valued at approximately $927,000. Finally, Alpine Global Management LLC acquired a new stake in Bausch Health Companies during the fourth quarter worth approximately $114,000. 78.65% of the stock is owned by institutional investors and hedge funds.

Bausch Health Companies Stock Performance

NYSE BHC traded down $0.30 during trading hours on Wednesday, reaching $6.70. The company’s stock had a trading volume of 1,010,548 shares, compared to its average volume of 2,704,370. The company’s 50-day moving average is $7.12 and its two-hundred day moving average is $7.72. Bausch Health Companies has a fifty-two week low of $3.96 and a fifty-two week high of $11.46. The stock has a market cap of $2.47 billion, a PE ratio of -55.79, a PEG ratio of 0.37 and a beta of 0.59.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.21 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 during the quarter, compared to analyst estimates of $2.51 billion. Equities analysts expect that Bausch Health Companies will post 4.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

BHC has been the subject of several recent analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a research note on Thursday, February 6th. Royal Bank of Canada dropped their target price on shares of 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.42.

Bausch Health Companies Company Profile

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.