Bausch Health Companies Inc. (NYSE:BHC) Short Interest Up 9.9% in November

Bausch Health Companies Inc. (NYSE:BHC) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 10,260,000 shares, a growth of 9.9% from the November 15th total of 9,340,000 shares. Currently, 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,910,000 shares, the short-interest ratio is presently 5.4 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Finally, StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.75.

Institutional Investors Weigh In On Bausch Health Companies

A number of hedge funds have recently made changes to their positions in the business. Bfsg LLC increased its holdings in Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after buying an additional 3,643 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 worth $423,000 after purchasing an additional 3,923 shares during the last quarter. Tobam increased its stake in shares of Bausch Health Companies by 48.9% during the 2nd quarter. Tobam now owns 26,148 shares of the company’s stock worth $182,000 after purchasing an additional 8,586 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Bausch Health Companies by 3.9% in the 2nd quarter. Van ECK Associates Corp now owns 302,471 shares of the company’s stock worth $2,108,000 after purchasing an additional 11,379 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Bausch Health Companies by 8.8% in the second quarter. CIBC Asset Management Inc now owns 373,647 shares of the company’s stock valued at $2,604,000 after purchasing an additional 30,124 shares during the last quarter. 78.65% of the stock is currently owned by institutional investors.

Bausch Health Companies Stock Performance

Shares of BHC stock opened at $7.66 on Tuesday. Bausch Health Companies has a 52-week low of $3.96 and a 52-week high of $11.46. The company has a 50-day simple moving average of $8.37 and a two-hundred day simple moving average of $7.26. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -15.95 and a beta of 0.69.

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