Royal Bank of Canada Cuts Bausch Health Companies (NYSE:BHC) Price Target to $10.00

Bausch Health Companies (NYSE:BHC) had its price target decreased by research analysts at Royal Bank of Canada from $11.00 to $10.00 in a report released on Thursday, Marketbeat Ratings reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 34.50% from the stock’s previous close.

A number of other brokerages have also weighed in on BHC. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Bausch Health Companies currently has an average rating of “Hold” and an average price target of $7.58.

Bausch Health Companies Stock Down 0.3 %

Shares of BHC opened at $7.44 on Thursday. The company has a 50 day moving average of $7.76 and a two-hundred day moving average of $7.46. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -15.49 and a beta of 0.69. Bausch Health Companies has a twelve month low of $3.96 and a twelve month high of $11.46.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.10. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, sell-side analysts expect that Bausch Health Companies will post 3.73 EPS for the current year.

Institutional Trading of Bausch Health Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in BHC. Goldentree Asset Management LP lifted its position in Bausch Health Companies by 31.0% during the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock valued at $239,552,000 after purchasing an additional 6,958,717 shares during the period. Bank of Montreal Can boosted its stake in shares of Bausch Health Companies by 234.0% in the third quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock worth $31,598,000 after buying an additional 2,685,675 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new stake in Bausch Health Companies during the third quarter worth about $16,850,000. SG Americas Securities LLC lifted its holdings in Bausch Health Companies by 62.0% in the fourth quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company’s stock valued at $26,614,000 after acquiring an additional 1,263,706 shares during the period. Finally, LMR Partners LLP purchased a new stake in Bausch Health Companies in the 3rd quarter worth approximately $3,264,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

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.