Bausch Health Companies (NYSE:BHC) Shares Down 5.2% – Should You Sell?

Bausch Health Companies Inc. (NYSE:BHC) shares were down 5.2% during mid-day trading on Monday . The company traded as low as $7.01 and last traded at $7.05. Approximately 488,195 shares changed hands during trading, a decline of 85% from the average daily volume of 3,154,331 shares. The stock had previously closed at $7.43.

Wall Street Analyst Weigh In

Several equities analysts have commented on BHC shares. Royal Bank of Canada lowered their target price on shares of Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 30th. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.58.

Bausch Health Companies Stock Up 1.2 %

The firm’s 50 day moving average is $7.74 and its two-hundred day moving average is $7.46. The company has a market cap of $2.66 billion, a P/E ratio of -15.30 and a beta of 0.68.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Tobam raised its position in Bausch Health Companies by 10.4% during the fourth quarter. Tobam now owns 15,034 shares of the company’s stock valued at $121,000 after purchasing an additional 1,422 shares in the last quarter. DGS Capital Management LLC purchased a new position in Bausch Health Companies during the 4th quarter valued at about $143,000. Principal Securities Inc. grew its holdings in shares of Bausch Health Companies by 39.7% during the fourth quarter. Principal Securities Inc. now owns 19,220 shares of the company’s stock valued at $155,000 after buying an additional 5,464 shares during the last quarter. Merit Financial Group LLC bought a new position in Bausch Health Companies during the fourth quarter valued at approximately $228,000. Finally, Sanders Morris Harris LLC raised its position in Bausch Health Companies by 16.0% in the fourth quarter. Sanders Morris Harris LLC now owns 28,975 shares of the company’s stock worth $234,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.

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.