Bausch Health Companies (NYSE:BHC) Cut to “Hold” at StockNews.com

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

A number of other research analysts have also issued reports on the stock. Jefferies Financial Group reduced their target price on shares of Bausch Health Companies from $13.00 to $9.00 and set a buy rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective 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. 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 for the company. Truist Financial lowered their price objective 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. Finally, Scotiabank lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $7.33.

Bausch Health Companies Stock Up 2.1 %

Bausch Health Companies stock opened at $8.19 on Tuesday. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The firm’s 50-day simple moving average is $6.25 and its 200 day simple moving average is $7.35. The firm has a market capitalization of $2.96 billion, a PE ratio of -6.60 and a beta of 0.75.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data 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 net margin of 5.12% and a negative return on equity of 742.06%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the firm earned $0.81 EPS. On average, research analysts expect that Bausch Health Companies will post 3.61 EPS for the current fiscal year.

Insider Activity

In related news, EVP Seana Carson sold 13,370 shares of the firm’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 transaction, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.12% of the company’s stock.

Hedge Funds Weigh In On Bausch Health Companies

Institutional investors have recently modified their holdings of the company. Clearline Capital LP acquired a new position in Bausch Health Companies during the 2nd quarter worth $6,881,000. Mackenzie Financial Corp increased its position 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 in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Bausch Health Companies by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company’s stock worth $1,719,000 after purchasing an additional 4,944 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of Bausch Health Companies during the second quarter worth approximately $1,606,000. Finally, MQS Management LLC acquired a new stake in Bausch Health Companies in the second quarter valued at approximately $71,000. Institutional investors own 78.65% of the company’s stock.

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.