Bausch Health Companies (NYSE:BHC) Upgraded to “Buy” by StockNews.com

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

A number of other research firms also recently issued reports on BHC. Royal Bank of Canada reduced their price objective on Bausch Health Companies from $12.00 to $11.00 and set a sector perform rating on the stock in a research note on Tuesday, April 23rd. Piper Sandler boosted their price target on shares of Bausch Health Companies from $7.00 to $9.00 and gave the stock a neutral rating in a research report on Monday, April 29th. Finally, 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 objective for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $10.50.

Bausch Health Companies Price Performance

Shares of BHC opened at $7.60 on Thursday. The firm has a market cap of $2.75 billion, a P/E ratio of -6.13 and a beta of 0.77. The company has a 50 day simple moving average of $6.77 and a two-hundred day simple moving average of $8.06. Bausch Health Companies has a 1 year low of $6.05 and a 1 year high of $11.46.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.16). The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. On average, sell-side analysts anticipate that Bausch Health Companies will post 3.6 earnings per share for the current year.

Institutional Investors Weigh In On Bausch Health Companies

Several institutional investors have recently modified their holdings of the stock. Thompson Investment Management Inc. increased its position in shares of Bausch Health Companies by 12.7% during the 2nd quarter. Thompson Investment Management Inc. now owns 237,586 shares of the company’s stock valued at $1,656,000 after purchasing an additional 26,692 shares during the last quarter. Hein Park Capital Management LP boosted its stake in Bausch Health Companies by 56.9% during the first quarter. Hein Park Capital Management LP now owns 1,653,579 shares of the company’s stock worth $17,544,000 after buying an additional 600,000 shares during the period. Natixis increased its position in Bausch Health Companies by 14.3% during the first quarter. Natixis now owns 3,652,200 shares of the company’s stock valued at $38,707,000 after acquiring an additional 456,000 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Bausch Health Companies by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock valued at $933,000 after acquiring an additional 3,519 shares during the period. Finally, Hillsdale Investment Management Inc. raised its stake in shares of Bausch Health Companies by 1,050.8% in the first quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock valued at $36,135,000 after acquiring an additional 3,113,123 shares during the period. 78.65% of the stock is owned by institutional investors.

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.