Bausch Health Cos Inc. (NYSE:BHC) Short Interest Update
by Doug Wharley · The Cerbat GemBausch Health Cos Inc. (NYSE:BHC – Get Free Report) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 4,835,516 shares, a decline of 24.6% from the December 15th total of 6,413,854 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average trading volume of 2,176,462 shares, the days-to-cover ratio is currently 2.2 days. Based on an average trading volume of 2,176,462 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.6% of the company’s shares are sold short.
Bausch Health Cos Trading Down 3.9%
BHC traded down $0.28 during midday trading on Monday, reaching $6.98. 1,532,928 shares of the company’s stock traded hands, compared to its average volume of 1,884,256. Bausch Health Cos has a 52 week low of $4.25 and a 52 week high of $8.69. The company has a debt-to-equity ratio of 57.48, a current ratio of 1.30 and a quick ratio of 0.97. The firm has a fifty day moving average of $6.91 and a two-hundred day moving average of $6.77. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 7.20 and a beta of 0.37.
Institutional Trading of Bausch Health Cos
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHC. Range Financial Group LLC increased its position in Bausch Health Cos by 8.8% during the 4th quarter. Range Financial Group LLC now owns 175,996 shares of the company’s stock valued at $1,223,000 after purchasing an additional 14,223 shares during the period. Kathmere Capital Management LLC bought a new stake in shares of Bausch Health Cos during the 4th quarter valued at about $89,000. Swiss Life Asset Management Ltd purchased a new position in shares of Bausch Health Cos during the third quarter valued at about $72,000. Goldentree Asset Management LP raised its stake in Bausch Health Cos by 1.7% in the third quarter. Goldentree Asset Management LP now owns 34,833,431 shares of the company’s stock worth $224,409,000 after buying an additional 578,542 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Bausch Health Cos by 4.1% in the third quarter. CANADA LIFE ASSURANCE Co now owns 108,393 shares of the company’s stock worth $699,000 after buying an additional 4,237 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on BHC shares. Barclays started coverage on shares of Bausch Health Cos in a research report on Monday, December 8th. They issued an “equal weight” rating and a $8.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bausch Health Cos in a research note on Monday, December 29th. Wall Street Zen downgraded Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a report on Saturday. Raymond James Financial upgraded Bausch Health Cos to a “hold” rating in a report on Monday, December 15th. Finally, Truist Financial lifted their price target on Bausch Health Cos from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, January 7th. Six research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.50.
Get Our Latest Research Report on Bausch Health Cos
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.