Traders Purchase Large Volume of Put Options on Bausch Health Companies (NYSE:BHC)

Bausch Health Companies Inc. (NYSE:BHC) was the target of some unusual options trading activity on Tuesday. Investors acquired 27,740 put options on the company. This is an increase of 409% compared to the average volume of 5,445 put options.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BHC shares. Piper Sandler downgraded shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. Jefferies Financial Group cut their target price on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada raised their target price on shares of Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Scotiabank cut their target price on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bausch Health Companies has a consensus rating of “Hold” and a consensus price target of $7.75.

Insider Activity at Bausch Health Companies

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the transaction, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. This trade represents a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.12% of the stock is currently owned by insiders.

Institutional Trading of Bausch Health Companies

Several large investors have recently added to or reduced their stakes in BHC. CIBC Asset Management Inc boosted its holdings in shares of Bausch Health Companies by 0.3% during the 3rd quarter. CIBC Asset Management Inc now owns 374,729 shares of the company’s stock valued at $3,060,000 after buying an additional 1,082 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Bausch Health Companies by 4.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock valued at $933,000 after buying an additional 3,519 shares in the last quarter. Bfsg LLC boosted its holdings in shares of Bausch Health Companies by 46.7% during the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after buying an additional 3,643 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in shares of Bausch Health Companies by 13.0% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 32,384 shares of the company’s stock valued at $264,000 after buying an additional 3,734 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bausch Health Companies by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock valued at $423,000 after buying an additional 3,923 shares in the last quarter. Institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Stock Down 0.8 %

NYSE:BHC opened at $7.89 on Wednesday. The stock has a market cap of $2.90 billion, a P/E ratio of -16.21 and a beta of 0.74. The firm’s fifty day simple moving average is $8.39 and its 200 day simple moving average is $7.11. Bausch Health Companies has a twelve month low of $3.96 and a twelve month high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.10. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. On average, analysts expect that Bausch Health Companies will post 3.74 EPS for the current fiscal year.

Bausch Health Companies Company Profile

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.