Bausch Health Companies Target of Unusually Large Options Trading (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the target of unusually large options trading on Tuesday. Traders purchased 27,740 put options on the stock. This represents an increase of 409% compared to the typical daily volume of 5,445 put options.

Bausch Health Companies Price Performance

Shares of NYSE:BHC opened at $8.12 on Thursday. Bausch Health Companies has a one year low of $3.96 and a one year high of $11.46. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -16.44 and a beta of 0.74. The firm has a 50 day simple moving average of $8.40 and a 200 day simple moving average of $7.12.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.10. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The company’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. As a group, analysts expect that Bausch Health Companies will post 3.74 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BHC. Jefferies Financial Group dropped their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Scotiabank lowered their target price on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada raised their price target on Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Finally, StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Bausch Health Companies currently has a consensus rating of “Hold” and an average target price of $7.75.

Insider Transactions at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $6.21, for a total value of $83,027.70. Following the completion of the sale, the executive vice president now owns 435,198 shares in the company, valued at $2,702,579.58. This represents a 2.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bausch Health Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Bausch Health Companies by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 11,713,993 shares of the company’s stock valued at $124,285,000 after acquiring an additional 114,862 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Bausch Health Companies by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock valued at $933,000 after purchasing an additional 3,519 shares in the last quarter. Thompson Investment Management Inc. boosted its position in shares of Bausch Health Companies by 12.7% during the second quarter. Thompson Investment Management Inc. now owns 237,586 shares of the company’s stock valued at $1,656,000 after buying an additional 26,692 shares during the last quarter. Bfsg LLC grew its holdings in Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after buying an additional 3,643 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bausch Health Companies by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock valued at $423,000 after buying an additional 3,923 shares during the last quarter. 78.65% of the stock is owned by 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.