Stock Traders Purchase High Volume of Bausch Health Companies Put Options (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the target of unusually large options trading on Thursday. Stock traders bought 65,522 put options on the stock. This represents an increase of approximately 1,339% compared to the typical daily volume of 4,552 put options.

Wall Street Analyst Weigh In

BHC has been the topic of a number of analyst reports. Truist Financial reduced 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 note on Thursday, July 25th. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Evercore ISI raised Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Piper Sandler lowered 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, Scotiabank cut their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.33.

Bausch Health Companies Stock Up 12.7 %

BHC opened at $9.21 on Friday. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The business has a fifty day simple moving average of $7.41 and a 200-day simple moving average of $7.05. The firm has a market cap of $3.32 billion, a P/E ratio of -7.31 and a beta of 0.77.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. Bausch Health Companies’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. Sell-side analysts expect that Bausch Health Companies will post 3.61 earnings per share for the current year.

Insiders Place Their Bets

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the transaction, the executive vice president now owns 435,198 shares in the company, valued at approximately $2,702,579.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.12% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Companies

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Bausch Health Companies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 11,599,131 shares of the company’s stock worth $93,025,000 after purchasing an additional 111,363 shares during the period. SG Americas Securities LLC raised its holdings in Bausch Health Companies by 3,080.9% in the first quarter. SG Americas Securities LLC now owns 2,200,526 shares of the company’s stock valued at $23,348,000 after acquiring an additional 2,131,347 shares in the last quarter. Inspire Investing LLC acquired a new stake in Bausch Health Companies in the first quarter valued at approximately $935,000. Blair William & Co. IL lifted its stake in Bausch Health Companies by 5.0% in the first 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 last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Bausch Health Companies by 23.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 44,424 shares of the company’s stock worth $463,000 after acquiring an additional 8,300 shares in the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

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.