Bausch Health Companies (NYSE:BHC) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Bausch Health Companies (NYSE:BHC) from a hold rating to a buy rating in a report published on Wednesday morning.

A number of other research analysts have also recently weighed in on BHC. Scotiabank dropped their price target on Bausch Health Companies from $10.00 to $8.50 and set a sector perform rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada cut their target price on shares of Bausch Health Companies from $10.00 to $8.50 and set a sector perform rating for the company in a research report on Friday, August 2nd. Piper Sandler lowered shares of Bausch Health Companies from a neutral rating to an underweight rating and lowered their price target for the company from $9.00 to $3.00 in a research report on Friday, August 2nd. Jefferies Financial Group dropped their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Finally, Raymond James started coverage on Bausch Health Companies in a research note on Wednesday, July 10th. They set a market perform rating and a $8.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $7.33.

Bausch Health Companies Trading Up 1.8 %

BHC stock opened at $8.26 on Wednesday. The company’s 50-day moving average price is $6.34 and its 200 day moving average price is $7.30. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The company has a market cap of $2.98 billion, a P/E ratio of -6.66 and a beta of 0.75.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.89 by $0.09. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the company earned $0.81 EPS. On average, equities research analysts expect that Bausch Health Companies will post 3.61 earnings per share for the current year.

Insider Transactions at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the completion of the transaction, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.12% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Companies

A number of institutional investors have recently bought and sold shares of the stock. Salem Investment Counselors Inc. acquired a new position in shares of Bausch Health Companies in the 1st quarter valued at $32,000. CANADA LIFE ASSURANCE Co raised its position in shares of Bausch Health Companies by 4.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock worth $933,000 after buying an additional 3,519 shares during the period. Bfsg LLC boosted its holdings in Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after acquiring an additional 3,643 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Bausch Health Companies by 6.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock valued at $423,000 after acquiring an additional 3,923 shares during the period. Finally, Blair William & Co. IL increased its stake in Bausch Health Companies by 5.0% during the first quarter. Blair William & Co. IL now owns 84,245 shares of the company’s stock worth $894,000 after acquiring an additional 4,000 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

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.