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

Bausch Health Companies Inc. (NYSE:BHC) was the target of unusually large options trading activity on Wednesday. Traders acquired 6,463 call options on the stock. This is an increase of approximately 61% compared to the typical daily volume of 4,017 call options.

Bausch Health Companies Stock Up 2.1 %

Shares of NYSE BHC opened at $8.19 on Friday. Bausch Health Companies has a 12-month low of $3.96 and a 12-month high of $11.46. The firm has a market cap of $2.96 billion, a PE ratio of -6.60 and a beta of 0.75. The company’s fifty day simple moving average is $6.25 and its 200 day simple moving average is $7.35.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the company posted $0.81 earnings per share. On average, equities analysts predict that Bausch Health Companies will post 3.61 earnings per share for the current year.

Insider Transactions at Bausch Health Companies

In other 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 value of $83,027.70. Following the sale, the executive vice president now owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Bausch Health Companies

Hedge funds have recently bought and sold shares of the company. Principal Securities Inc. purchased a new stake in shares of Bausch Health Companies during the 4th quarter valued at about $31,000. Salem Investment Counselors Inc. purchased a new stake in shares of Bausch Health Companies during the 1st quarter valued at about $32,000. Headlands Technologies LLC purchased a new stake in shares of Bausch Health Companies during the 2nd quarter valued at about $35,000. MQS Management LLC purchased a new stake in shares of Bausch Health Companies during the 2nd quarter valued at about $71,000. Finally, Certuity LLC purchased a new stake in shares of Bausch Health Companies during the 2nd quarter valued at about $75,000. Institutional investors own 78.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on BHC. Piper Sandler cut shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $9.00 to $3.00 in a research report on Friday, August 2nd. Jefferies Financial Group dropped their price target on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Scotiabank dropped their price target 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. Truist Financial dropped their price target on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Finally, StockNews.com downgraded Bausch Health Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.33.

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.