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

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

Other equities research analysts have also recently issued research reports about the stock. Truist Financial cut their price objective 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. Scotiabank dropped their target price on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada lowered their price target 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. Piper Sandler cut shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. Finally, Jefferies Financial Group reduced 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 research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.33.

Bausch Health Companies Price Performance

Shares of BHC opened at $8.10 on Wednesday. Bausch Health Companies has a one year low of $3.96 and a one year high of $11.46. The company has a 50-day simple moving average of $6.32 and a two-hundred day simple moving average of $7.31. The firm has a market capitalization of $2.92 billion, a PE ratio of -6.53 and a beta of 0.75.

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, beating the consensus estimate of $0.89 by $0.09. The company had revenue of $2.40 billion for 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 previous year, the company posted $0.81 earnings per share. Analysts expect that Bausch Health Companies will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Seana Carson sold 13,370 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Bausch Health Companies

Several hedge funds and other institutional investors have recently modified their holdings of BHC. Norges Bank bought a new stake in shares of Bausch Health Companies in the fourth quarter worth $31,121,000. Hillsdale Investment Management Inc. grew its stake in shares of Bausch Health Companies by 1,050.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock valued at $36,135,000 after purchasing an additional 3,113,123 shares during the period. SG Americas Securities LLC increased its position in shares of Bausch Health Companies by 3,080.9% during the 1st quarter. SG Americas Securities LLC now owns 2,200,526 shares of the company’s stock valued at $23,348,000 after purchasing an additional 2,131,347 shares during the last quarter. Crestline Management LP bought a new position in shares of Bausch Health Companies in the 4th quarter worth approximately $16,040,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Bausch Health Companies by 111.0% in the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after buying an additional 1,252,834 shares during the last quarter. 78.65% of the stock is owned by 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.