Bausch Health Cos Inc. (NYSE:BHC) Sees Significant Decrease in Short Interest

Bausch Health Cos Inc. (NYSE:BHC) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totaling 4,835,516 shares, a drop of 24.6% from the December 15th total of 6,413,854 shares. Based on an average trading volume of 2,176,462 shares, the short-interest ratio is presently 2.2 days. Approximately 1.6% of the shares of the stock are short sold. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 2,176,462 shares, the short-interest ratio is presently 2.2 days.

Bausch Health Cos Trading Down 3.9%

NYSE BHC traded down $0.28 during trading on Friday, hitting $6.98. 1,532,928 shares of the company’s stock traded hands, compared to its average volume of 1,931,314. The stock has a fifty day moving average of $6.90 and a two-hundred day moving average of $6.77. Bausch Health Cos has a 12-month low of $4.25 and a 12-month high of $8.69. The firm has a market cap of $2.59 billion, a P/E ratio of 7.20 and a beta of 0.37. The company has a debt-to-equity ratio of 57.48, a current ratio of 1.30 and a quick ratio of 0.97.

Institutional Trading of Bausch Health Cos

Institutional investors have recently made changes to their positions in the stock. Goldentree Asset Management LP raised its holdings in Bausch Health Cos by 1.7% during the 3rd quarter. Goldentree Asset Management LP now owns 34,833,431 shares of the company’s stock valued at $224,409,000 after buying an additional 578,542 shares during the last quarter. Paulson & CO. Inc. increased its position in shares of Bausch Health Cos by 24.0% in the second quarter. Paulson & CO. Inc. now owns 32,791,702 shares of the company’s stock valued at $218,393,000 after acquiring an additional 6,352,667 shares during the period. Vanguard Group Inc. increased its position in shares of Bausch Health Cos by 4.0% in the third quarter. Vanguard Group Inc. now owns 12,241,072 shares of the company’s stock valued at $78,808,000 after acquiring an additional 470,968 shares during the period. Maple Rock Capital Partners Inc. raised its stake in shares of Bausch Health Cos by 14.9% during the second quarter. Maple Rock Capital Partners Inc. now owns 7,808,487 shares of the company’s stock valued at $52,005,000 after acquiring an additional 1,010,987 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Bausch Health Cos by 114.4% during the second quarter. SG Americas Securities LLC now owns 6,152,986 shares of the company’s stock worth $40,979,000 after purchasing an additional 3,282,684 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Bausch Health Cos in a research report on Monday, December 29th. Raymond James Financial raised shares of Bausch Health Cos to a “hold” rating in a research note on Monday, December 15th. Barclays assumed coverage on shares of Bausch Health Cos in a research report on Monday, December 8th. They set an “equal weight” rating and a $8.00 price objective on the stock. Wall Street Zen lowered shares of Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial raised their price target on Bausch Health Cos from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, January 7th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Bausch Health Cos currently has a consensus rating of “Hold” and an average target price of $8.50.

About Bausch Health Cos

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.