Bausch Health Companies Inc. (NYSE:BHC) Short Interest Down 6.2% in September

Bausch Health Companies Inc. (NYSE:BHC) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 18,600,000 shares, a decrease of 6.2% from the August 31st total of 19,830,000 shares. Currently, 5.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,760,000 shares, the days-to-cover ratio is currently 4.9 days.

Wall Street Analysts Forecast Growth

BHC has been the topic of several recent research reports. Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $9.00 to $3.00 in a research report on Friday, August 2nd. Royal Bank of Canada cut 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. Truist Financial decreased their target price on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, Raymond James initiated coverage on Bausch Health Companies in a research note on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bausch Health Companies has a consensus rating of “Hold” and a consensus target price of $7.33.

Insider Transactions at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at $2,702,579.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.12% of the company’s stock.

Institutional Trading of Bausch Health Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. bought a new position in Bausch Health Companies in the 1st quarter worth $32,000. CANADA LIFE ASSURANCE Co lifted its holdings in Bausch Health Companies by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock worth $933,000 after buying an additional 3,519 shares during the period. Bfsg LLC boosted its position in Bausch Health Companies by 46.7% during the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after acquiring an additional 3,643 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Bausch Health Companies by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock valued at $423,000 after acquiring an additional 3,923 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Bausch Health Companies by 5.0% during the 1st quarter. Blair William & Co. IL now owns 84,245 shares of the company’s stock worth $894,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Trading Up 1.3 %

Shares of NYSE:BHC opened at $8.27 on Wednesday. The company has a 50-day moving average price of $6.35 and a 200-day moving average price of $7.27. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -6.67 and a beta of 0.75. Bausch Health Companies has a 12 month low of $3.96 and a 12 month high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.33 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. During the same quarter in the prior year, the company posted $0.81 EPS. As a group, research analysts forecast that Bausch Health Companies will post 3.61 EPS 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.