Bausch Health Companies (NYSE:BHC) Upgraded to Buy at StockNews.com

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

Several other research firms also recently commented on BHC. Piper Sandler boosted their target price 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. Royal Bank of Canada cut their price target on shares of Bausch Health Companies from $12.00 to $11.00 and set a sector perform rating on the stock in a report on Tuesday, April 23rd. Raymond James started coverage on shares of Bausch Health Companies in a report on Wednesday, July 10th. They set a market perform rating and a $8.00 price target on the stock. Finally, Truist Financial cut their price target on shares of Bausch Health Companies from $8.00 to $7.00 and set a hold rating on the stock in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $9.80.

Bausch Health Companies Price Performance

NYSE:BHC opened at $5.95 on Friday. The firm has a 50-day moving average of $6.71 and a 200-day moving average of $7.99. The company has a market cap of $2.15 billion, a PE ratio of -4.80 and a beta of 0.77. Bausch Health Companies has a one year low of $3.96 and a one year high of $11.46.

Bausch Health Companies (NYSE:BHC) last posted its 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 business had revenue of $2.15 billion for the quarter, compared to the consensus estimate 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, equities research analysts expect that Bausch Health Companies will post 3.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. purchased a new position in Bausch Health Companies in the first quarter valued at about $32,000. CANADA LIFE ASSURANCE Co boosted its stake in 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 last quarter. Bfsg LLC boosted its stake in Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after acquiring an additional 3,643 shares during the last quarter. Principal Securities Inc. purchased a new position in Bausch Health Companies in the fourth quarter valued at about $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bausch Health Companies by 6.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock valued at $423,000 after acquiring an additional 3,923 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other 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.