Bausch Health Companies Inc. (NYSE:BHC) Short Interest Down 5.4% in March

Bausch Health Companies Inc. (NYSE:BHC) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 22,500,000 shares, a decrease of 5.4% from the March 15th total of 23,780,000 shares. Currently, 6.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,640,000 shares, the short-interest ratio is currently 8.5 days.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BHC shares. Jefferies Financial Group lowered their price objective on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $12.00 price target on shares of Bausch Health Companies in a report on Friday. Finally, StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th.

Institutional Trading of Bausch Health Companies

Several institutional investors and hedge funds have recently made changes to their positions in BHC. Salem Investment Counselors Inc. bought a new position in shares of Bausch Health Companies in the 1st quarter worth $32,000. Principal Securities Inc. bought a new position in Bausch Health Companies during the fourth quarter worth about $31,000. Lazard Asset Management LLC acquired a new position in shares of Bausch Health Companies during the 2nd quarter worth about $49,000. Tower Research Capital LLC TRC increased its stake in shares of Bausch Health Companies by 283.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock valued at $55,000 after acquiring an additional 5,112 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Bausch Health Companies in the 4th quarter valued at approximately $63,000. Institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Trading Down 1.4 %

Shares of NYSE:BHC opened at $8.64 on Tuesday. Bausch Health Companies has a 1-year low of $5.57 and a 1-year high of $11.46. The stock has a market capitalization of $3.16 billion, a P/E ratio of -5.33 and a beta of 0.85. The business has a 50-day moving average price of $9.25 and a two-hundred day moving average price of $8.14.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.01 by $0.14. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the company earned $1.02 EPS. Bausch Health Companies’s revenue was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Bausch Health Companies will post 3.95 EPS for the current year.

About Bausch Health Companies

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.