Investors Buy High Volume of Bausch Health Companies Call Options (NYSE:BHC)

Posted by Defense World Staff on Jul 18th, 2023

Bausch Health Companies Inc. (NYSE:BHC – Get Free Report) was the target of unusually large options trading activity on Monday. Investors bought 17,865 call options on the stock. This represents an increase of approximately 86% compared to the average daily volume of 9,612 call options.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Goldentree Asset Management LP raised its holdings in shares of Bausch Health Companies by 29.1% during the fourth quarter. Goldentree Asset Management LP now owns 21,283,709 shares of the company’s stock valued at $133,662,000 after acquiring an additional 4,798,327 shares in the last quarter. Natixis boosted its position in Bausch Health Companies by 97.7% in the fourth quarter. Natixis now owns 15,817,975 shares of the company’s stock worth $99,337,000 after purchasing an additional 7,817,975 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Bausch Health Companies by 12,687.5% during the 4th quarter. National Bank of Canada FI now owns 13,136,603 shares of the company’s stock valued at $82,497,000 after buying an additional 13,033,873 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bausch Health Companies by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 10,924,375 shares of the company’s stock valued at $75,268,000 after buying an additional 219,279 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Bausch Health Companies by 100.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,000,000 shares of the company’s stock valued at $81,000,000 after buying an additional 5,000,000 shares in the last quarter. 74.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on BHC. Jefferies Financial Group upped their price target on shares of Bausch Health Companies from $7.00 to $9.50 in a research report on Monday, May 22nd. StockNews.com downgraded shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, TD Cowen downgraded shares of Bausch Health Companies from an “outperform” rating to a “market perform” rating in a research note on Friday, June 16th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, Bausch Health Companies has an average rating of “Hold” and an average target price of $7.83.

Bausch Health Companies Stock Performance

NYSE:BHC opened at $9.30 on Tuesday. The company has a fifty day moving average of $7.64 and a 200-day moving average of $7.74. The firm has a market capitalization of $3.37 billion, a P/E ratio of -9.48, a P/E/G ratio of 0.13 and a beta of 0.93. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 139.36. Bausch Health Companies has a twelve month low of $4.00 and a twelve month high of $10.23.

Bausch Health Companies (NYSE:BHC – Get Free Report) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.23). Bausch Health Companies had a negative net margin of 4.38% and a positive return on equity of 381.67%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. As a group, sell-side analysts anticipate that Bausch Health Companies will post 3.26 EPS for the current year.

About Bausch Health Companies

(Get Free Report)

Bausch Health Companies Inc operates as a diversified pharmaceutical company. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, and eye health. The company operates through five segments: Salix, International, Solta Medical, Diversified, and Bausch + Lomb.