Bausch Health Companies Target of Unusually Large Options Trading (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHCGet Free Report) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 33,871 call options on the company. This is an increase of 133% compared to the typical daily volume of 14,506 call options.

Institutional Trading of Bausch Health Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Aviva PLC increased its stake in shares of Bausch Health Companies by 2.2% in the first quarter. Aviva PLC now owns 45,626 shares of the company’s stock worth $1,044,000 after buying an additional 971 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Bausch Health Companies by 0.5% in the second quarter. CIBC Asset Management Inc now owns 267,868 shares of the company’s stock worth $2,145,000 after purchasing an additional 1,428 shares during the period. Legal & General Group Plc boosted its holdings in Bausch Health Companies by 0.5% in the third quarter. Legal & General Group Plc now owns 296,379 shares of the company’s stock worth $2,455,000 after purchasing an additional 1,565 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Bausch Health Companies by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 211,993 shares of the company’s stock worth $1,696,000 after purchasing an additional 1,945 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in Bausch Health Companies by 2.2% in the first quarter. Gabelli Funds LLC now owns 93,000 shares of the company’s stock worth $753,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Stock Up 1.0 %

Shares of BHC traded up $0.10 during mid-day trading on Wednesday, reaching $10.30. 5,018,352 shares of the stock traded hands, compared to its average volume of 2,435,449. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -6.79 and a beta of 0.85. The stock has a fifty day simple moving average of $9.00 and a 200 day simple moving average of $8.06. Bausch Health Companies has a 12-month low of $5.57 and a 12-month high of $11.46.

Bausch Health Companies (NYSE:BHCGet Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.29 billion. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. On average, equities research analysts expect that Bausch Health Companies will post 3.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BHC shares. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada lifted their price objective on shares of Bausch Health Companies from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th.

Read Our Latest Stock Analysis on BHC

About Bausch Health Companies

(Get Free Report)

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.

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