Bausch Health Companies (NYSE:BHC) Stock Rating Lowered by StockNews.com

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

Other research analysts have also issued research reports about the company. Scotiabank dropped their target price on 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. Piper Sandler lowered Bausch Health Companies from a neutral rating to an underweight rating and dropped their target price for the company from $9.00 to $3.00 in a report on Friday, August 2nd. Truist Financial decreased their price target on Bausch Health Companies from $8.00 to $7.00 and set a hold rating on the stock in a research note on Thursday, July 25th. Royal Bank of Canada decreased their price target 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. Finally, Raymond James started coverage on Bausch Health Companies in a research note on Wednesday, July 10th. They issued a market perform rating and a $8.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $7.33.

Bausch Health Companies Stock Down 1.8 %

BHC opened at $8.03 on Tuesday. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -6.48 and a beta of 0.75. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The business’s 50 day moving average is $6.26 and its two-hundred day moving average is $7.36.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The business 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 quarter in the previous year, the company posted $0.81 earnings per share. Equities analysts expect that Bausch Health Companies will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the sale, 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 document filed with the SEC, which can be accessed through the SEC website. 8.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bausch Health Companies

A number of institutional investors have recently made changes to their positions in the stock. Clearline Capital LP acquired a new position in shares of Bausch Health Companies in the second quarter worth $6,881,000. Mackenzie Financial Corp raised its holdings in shares of Bausch Health Companies by 111.0% in the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after acquiring an additional 1,252,834 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Bausch Health Companies by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company’s stock worth $1,719,000 after acquiring an additional 4,944 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of Bausch Health Companies in the second quarter worth $1,606,000. Finally, MQS Management LLC acquired a new position in shares of Bausch Health Companies in the second quarter worth $71,000. 78.65% of the stock is owned by institutional investors and hedge funds.

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.