StockNews.com Lowers 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 published on Thursday.

A number of other analysts also recently commented on BHC. Truist Financial decreased 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. Evercore ISI raised Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reduced their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Raymond James assumed coverage on Bausch Health Companies in a report on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 target price on the stock. Finally, Jefferies Financial Group cut their price target on 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Bausch Health Companies presently has an average rating of “Hold” and a consensus target price of $7.33.

Bausch Health Companies Trading Down 2.4 %

Shares of BHC stock opened at $8.16 on Thursday. The stock has a 50 day simple moving average of $7.01 and a 200-day simple moving average of $7.15. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -6.58 and a beta of 0.77. Bausch Health Companies has a 12-month low of $3.96 and a 12-month high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. The firm 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 742.06% and a negative net margin of 5.12%. During the same quarter in the prior year, the business posted $0.81 earnings per share. On average, equities analysts forecast that Bausch Health Companies will post 3.61 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Seana Carson sold 13,370 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.12% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. boosted its position in Bausch Health Companies by 1,050.8% during the first quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock worth $36,135,000 after acquiring an additional 3,113,123 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Bausch Health Companies by 3,080.9% during the first quarter. SG Americas Securities LLC now owns 2,200,526 shares of the company’s stock worth $23,348,000 after purchasing an additional 2,131,347 shares during the last quarter. Mackenzie Financial Corp grew its position 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 valued at $16,612,000 after purchasing an additional 1,252,834 shares during the period. Clearline Capital LP acquired a new position in Bausch Health Companies in the second quarter valued at $6,881,000. Finally, Hein Park Capital Management LP lifted its position 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. 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.