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Why Did Bausch Health Companies Inc. (NYSE: BHC) Drop So Much?

Bausch Health Companies Inc. (NYSE:BHC) traded at $8.20 at last check on Tuesday, January 24, made an upward move of 0.24% on its previous day’s price.

Looking at the stock we see that its previous close was $8.18 and the beta (5Y monthly) reads 1.05 with the day’s price range being $8.07 – $8.57. The company has a trailing 12-month PE ratio of 11.72. In terms of its 52-week price range, BHC has a high of $26.39 and a low of $4.00. The company’s stock has gained about 20.29% over that past 30 days.

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Bausch Health Companies Inc. has a market cap of $2.81 billion and is expected to release its quarterly earnings report on Feb 21, 2023 – Feb 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of $1.26, with the EPS growth for the year raised at $4.46 for 2022 and $5.69 for next year. These figures represent -21.30% and 27.60% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $2.8 billion, with a low of $2.75 billion and a high of $2.84 billion. The median projection represents growth squeezing down to 5.00% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $11.03 billion, or 2.80% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the BHC stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of Hold.

Based on estimates by 10 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 7 have rated the Bausch Health Companies Inc. (BHC) stock as a Hold, while 2 rate it as a Buy. 0 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the BHC stock currently stands at 4.51, and the most recent price level today is 15.14% off its SMA20 and 13.82% from its 50-day simple moving average. The RSI (14) is pointing at 67.27 while the volatility over the past week is 5.40% and jumps to 5.19% over the past one month. The beta value is 1.03, while the average true range (ATR) is currently pointing at 0.39. The average price target for the stock over the next 12 months is $12.00, with the estimates having a low of $6.00 and a high of $35.00. These price ends are 26.83% and -326.83% off the today’s price level respectively, although investors could be excited at the prospect of a 2.44% if the BHC share price touches on the median price of $8.00.

Coming back to Bausch Health Companies Inc. (NYSE:BHC), we note that the average 3-month trading volume was 5.30 million, while that of the preceding 10-day period stands at 5.35 million. Current shares outstanding are 362.50 million.

The insiders hold 2.30% of the company’s shares while institutions hold 66.80%. The data shows that short shares as of Oct 13, 2022, stood at 28.0 million at a short ratio of 4.52. This represents a 7.74% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 29.1 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 30.25% up in year-to-date price movement.

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