Royal Bank of Canada Trims Bausch Health Companies (NYSE:BHC) Target Price to $8.50

Bausch Health Companies (NYSE:BHC) had its price objective cut by Royal Bank of Canada from $10.00 to $8.50 in a report released on Friday morning, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities analysts have also recently commented on the company. StockNews.com raised Bausch Health Companies from a hold rating to a buy rating in a report on Saturday, July 27th. Raymond James initiated coverage on Bausch Health Companies in a report on Wednesday, July 10th. They set a market perform rating and a $8.00 target price for the company. Piper Sandler cut Bausch Health Companies from a neutral rating to an underweight rating and reduced their target price for the company from $9.00 to $3.00 in a report on Friday. Scotiabank reduced their target price on Bausch Health Companies from $10.00 to $8.50 and set a sector perform rating for the company in a report on Friday. Finally, Truist Financial reduced their target price on Bausch Health Companies from $8.00 to $7.00 and set a hold rating for the company in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $8.17.

Bausch Health Companies Trading Down 7.2 %

NYSE BHC opened at $5.23 on Friday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -4.21 and a beta of 0.77. Bausch Health Companies has a twelve month low of $3.96 and a twelve month high of $11.46. The stock has a 50-day moving average of $6.65 and a 200 day moving average of $7.90.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Bausch Health Companies had a negative return on equity of 813.85% and a negative net margin of 5.12%. During the same quarter in the prior year, the firm posted $0.81 EPS. Equities analysts predict that Bausch Health Companies will post 3.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch Health Companies

A number of large investors have recently made changes to their positions in the stock. Salem Investment Counselors Inc. purchased a new position in Bausch Health Companies in the first quarter worth approximately $32,000. CANADA LIFE ASSURANCE Co grew its position 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 worth $933,000 after acquiring an additional 3,519 shares during the period. Bfsg LLC grew its position in Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after acquiring an additional 3,643 shares during the period. Principal Securities Inc. purchased a new position in Bausch Health Companies in the fourth quarter worth approximately $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 worth $423,000 after acquiring an additional 3,923 shares during the period. 78.65% of the stock is currently 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.