Bausch Health Cos (NYSE:BHC) Shares Gap Down – Should You Sell?

Bausch Health Cos Inc. (NYSE:BHC)’s share price gapped down before the market opened on Friday . The stock had previously closed at $6.57, but opened at $6.22. Bausch Health Cos shares last traded at $6.00, with a volume of 1,194,702 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BHC shares. Truist Financial increased 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. Raymond James Financial raised shares of Bausch Health Cos to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bausch Health Cos in a report on Monday, December 29th. Wall Street Zen lowered Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Barclays began coverage on Bausch Health Cos in a research note on Monday, December 8th. They set an “equal weight” rating and a $8.00 target price for the company. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Bausch Health Cos presently has a consensus rating of “Hold” and a consensus target price of $8.50.

Bausch Health Cos Stock Performance

The stock’s 50-day simple moving average is $6.90 and its 200-day simple moving average is $6.77. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 6.11 and a beta of 0.37. The company has a current ratio of 1.30, a quick ratio of 0.97 and a debt-to-equity ratio of 57.48.

Hedge Funds Weigh In On Bausch Health Cos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHC. Paulson & CO. Inc. grew its stake in Bausch Health Cos by 24.0% during the second quarter. Paulson & CO. Inc. now owns 32,791,702 shares of the company’s stock worth $218,393,000 after buying an additional 6,352,667 shares in the last quarter. Goldentree Asset Management LP lifted its holdings in shares of Bausch Health Cos by 13.2% during the 2nd quarter. Goldentree Asset Management LP now owns 34,254,889 shares of the company’s stock worth $227,848,000 after acquiring an additional 4,004,889 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Bausch Health Cos during the 2nd quarter worth approximately $22,644,000. SG Americas Securities LLC increased its stake in Bausch Health Cos by 114.4% in the second quarter. SG Americas Securities LLC now owns 6,152,986 shares of the company’s stock valued at $40,979,000 after acquiring an additional 3,282,684 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. raised its position in 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 purchasing an additional 1,010,987 shares in the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.

Bausch Health Cos Company Profile

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.