Bausch Health Companies (NYSE:BHC) Upgraded 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 Friday.

A number of other brokerages have also commented on BHC. Scotiabank cut their price objective on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Jefferies Financial Group dropped their price objective on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Royal Bank of Canada decreased their price target 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. Finally, Raymond James initiated coverage on shares of Bausch Health Companies in a report on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.33.

Bausch Health Companies Stock Performance

BHC opened at $8.04 on Friday. Bausch Health Companies has a 1 year low of $3.96 and a 1 year high of $11.46. The firm has a 50 day moving average price of $7.26 and a 200 day moving average price of $7.08. The company has a market cap of $2.90 billion, a PE ratio of -6.48 and a beta of 0.77.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.89 by $0.09. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.33 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. During the same period last year, the company posted $0.81 earnings per share. On average, sell-side analysts predict that Bausch Health Companies will post 3.61 earnings per share for the current year.

Insider Activity

In related news, EVP Seana Carson sold 13,370 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the sale, the executive vice president now owns 435,198 shares in the company, valued at $2,702,579.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.12% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Companies

A number of hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC acquired a new stake in shares of Bausch Health Companies in the 1st quarter worth about $935,000. Vanguard Group Inc. increased its stake in shares of Bausch Health Companies by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 11,599,131 shares of the company’s stock valued at $93,025,000 after purchasing an additional 111,363 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Bausch Health Companies by 111.0% during the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock valued at $16,612,000 after buying an additional 1,252,834 shares during the last quarter. Clearline Capital LP acquired a new position in shares of Bausch Health Companies during the second quarter worth approximately $6,881,000. Finally, Blair William & Co. IL increased its position in Bausch Health Companies by 5.0% in the 1st quarter. Blair William & Co. IL now owns 84,245 shares of the company’s stock valued at $894,000 after acquiring an additional 4,000 shares during the period. 78.65% of the stock is currently owned by institutional investors.

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.