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

Bausch Health Companies (NYSE:BHC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other research analysts have also recently weighed in on the stock. Raymond James began coverage on shares of Bausch Health Companies in a research note on Wednesday, July 10th. They set a “market perform” rating and a $8.00 target price on the stock. Royal Bank of Canada lowered their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock 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 for the company in a research report on Friday, August 2nd. Truist Financial lowered their price target on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Finally, Jefferies Financial Group cut their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.33.

Bausch Health Companies Stock Up 0.9 %

Shares of BHC opened at $8.10 on Wednesday. The business has a 50-day simple moving average of $6.32 and a two-hundred day simple moving average of $7.31. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -6.53 and a beta of 0.75.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data 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. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the company posted $0.81 EPS. On average, equities analysts anticipate that Bausch Health Companies will post 3.61 earnings per share for the current fiscal year.

Insider Activity at Bausch Health Companies

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the sale, 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 is accessible through this hyperlink. 8.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bausch Health Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Clearline Capital LP bought a new position in shares of Bausch Health Companies in the 2nd quarter valued at about $6,881,000. Mackenzie Financial Corp raised its position in 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 purchasing an additional 1,252,834 shares during the period. The Manufacturers Life Insurance Company raised its position in 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 valued at $1,719,000 after purchasing an additional 4,944 shares during the period. Maverick Capital Ltd. bought a new stake in shares of Bausch Health Companies in the 2nd quarter valued at approximately $1,606,000. Finally, MQS Management LLC purchased a new position in shares of Bausch Health Companies in the 2nd quarter worth approximately $71,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

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.