Bausch Health Companies (NYSE:BHC) Upgraded to “Buy” by StockNews.com

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

A number of other analysts have also recently weighed in on BHC. Piper Sandler cut Bausch Health Companies from a neutral rating to an underweight rating and dropped their price target for the stock from $9.00 to $3.00 in a research report on Friday, August 2nd. Scotiabank cut their target price on Bausch Health Companies from $10.00 to $8.50 and set a sector perform rating on the stock in a research note on Friday, August 2nd. Jefferies Financial Group lowered their price target on shares of Bausch Health Companies from $13.00 to $9.00 and set a buy rating for the company in a research report on Wednesday, August 7th. Raymond James initiated coverage on shares of Bausch Health Companies in a research report on Wednesday, July 10th. They issued a market perform rating and a $8.00 price objective on the stock. Finally, Truist Financial decreased their target price on shares of Bausch Health Companies from $8.00 to $7.00 and set a hold rating for the company in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $7.33.

Bausch Health Companies Price Performance

Shares of BHC opened at $6.25 on Friday. The stock has a market capitalization of $2.26 billion, a PE ratio of -5.04 and a beta of 0.75. The business’s fifty day moving average price is $6.29 and its 200 day moving average price is $7.44. Bausch Health Companies has a 12-month low of $3.96 and a 12-month high of $11.46.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the firm posted $0.81 EPS. As a group, research analysts anticipate that Bausch Health Companies will post 3.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the firm’s 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 transaction, the executive vice president now owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.12% of the company’s stock.

Hedge Funds Weigh In On Bausch Health Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHC. Norges Bank acquired a new stake in shares of Bausch Health Companies in the fourth quarter valued at $31,121,000. Hillsdale Investment Management Inc. boosted its position in shares of Bausch Health Companies by 1,050.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock valued at $36,135,000 after purchasing an additional 3,113,123 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Bausch Health Companies by 3,080.9% during the 1st quarter. SG Americas Securities LLC now owns 2,200,526 shares of the company’s stock valued at $23,348,000 after purchasing an additional 2,131,347 shares in the last quarter. Crestline Management LP acquired a new position in shares of Bausch Health Companies in the 4th quarter worth approximately $16,040,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Bausch Health Companies by 111.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after purchasing an additional 1,252,834 shares in the last quarter. 78.65% of the stock is 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.