Bausch Health Cos (NYSE:BHC) Trading Down 4.7% – Here’s Why

Bausch Health Cos Inc. (NYSE:BHC) shares were down 4.7% on Friday . The stock traded as low as $6.30 and last traded at $6.3090. Approximately 761,382 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 2,539,900 shares. The stock had previously closed at $6.62.

Analyst Upgrades and Downgrades

BHC has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bausch Health Cos in a report on Wednesday, October 8th. Wall Street Zen upgraded Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Bausch Health Cos presently has an average rating of “Hold” and a consensus price target of $9.00.

Bausch Health Cos Stock Down 5.2%

The stock has a 50-day moving average of $6.57 and a 200-day moving average of $6.23. The company has a debt-to-equity ratio of 141.90, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 24.14 and a beta of 0.47.

Institutional Investors Weigh In On Bausch Health Cos

Institutional investors and hedge funds have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC acquired a new position in shares of Bausch Health Cos during the 3rd quarter worth $95,000. Lazard Asset Management LLC bought a new position in Bausch Health Cos in the third quarter valued at about $256,000. Raymond James Financial Inc. raised its stake in Bausch Health Cos by 38.3% during the third quarter. Raymond James Financial Inc. now owns 107,621 shares of the company’s stock worth $694,000 after acquiring an additional 29,783 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Bausch Health Cos by 15.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,971 shares of the company’s stock worth $573,000 after acquiring an additional 11,969 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Bausch Health Cos by 237.0% in the 3rd quarter. Two Sigma Investments LP now owns 652,626 shares of the company’s stock valued at $4,209,000 after purchasing an additional 458,997 shares in the last quarter. Institutional investors own 78.65% of the company’s stock.

Bausch Health Cos 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.