StockNews.com Downgrades Bausch Health Companies (NYSE:BHC) to Hold

StockNews.com downgraded shares of Bausch Health Companies (NYSE:BHC) from a buy rating to a hold rating in a research note released on Thursday.

BHC has been the topic of a number of other reports. Raymond James started coverage on shares of Bausch Health Companies in a research report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 price target on the stock. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Scotiabank reduced 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 note on Friday, August 2nd. Truist Financial decreased their target price on 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, Jefferies Financial Group dropped their target price on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Bausch Health Companies currently has a consensus rating of “Hold” and an average target price of $7.33.

Bausch Health Companies Stock Down 2.4 %

BHC stock opened at $8.16 on Thursday. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -6.58 and a beta of 0.77. The business has a fifty day simple moving average of $7.01 and a 200-day simple moving average of $7.15. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.89 by $0.09. The company had revenue of $2.40 billion during 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 period in the prior year, the firm posted $0.81 earnings per share. As a group, analysts expect that Bausch Health Companies will post 3.61 earnings per share for the current fiscal year.

Insider Transactions at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the completion of the transaction, the executive vice president now owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 8.12% of the company’s stock.

Institutional Trading of Bausch Health Companies

Several institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. acquired a new position in Bausch Health Companies during the 1st quarter worth $32,000. Headlands Technologies LLC acquired a new position in Bausch Health Companies in the second quarter worth about $35,000. MQS Management LLC bought a new stake in Bausch Health Companies in the second quarter valued at about $71,000. Certuity LLC acquired a new stake in Bausch Health Companies during the second quarter valued at approximately $75,000. Finally, Bfsg LLC lifted its holdings in Bausch Health Companies by 46.7% during the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after buying an additional 3,643 shares during the last quarter. 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.