StockNews.com Downgrades 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 issued to investors on Tuesday.

BHC has been the topic of several other research reports. Scotiabank reduced their target price on shares of Bausch Health Companies from $10.00 to $8.50 and set a sector perform rating on the stock in a research note on Friday, August 2nd. Raymond James initiated coverage on Bausch Health Companies in a research note on Wednesday, July 10th. They set a market perform rating and a $8.00 price objective for the company. Piper Sandler cut Bausch Health Companies from a neutral rating to an underweight rating and decreased their price objective for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. Jefferies Financial Group decreased their target price 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. Finally, Truist Financial cut their price target on Bausch Health Companies from $8.00 to $7.00 and set a hold rating on the stock in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $7.33.

Bausch Health Companies Trading Up 2.1 %

Shares of BHC stock opened at $8.19 on Tuesday. Bausch Health Companies has a 1 year low of $3.96 and a 1 year high of $11.46. The firm’s fifty day simple moving average is $6.25 and its 200 day simple moving average is $7.35. The firm has a market capitalization of $2.96 billion, a P/E ratio of -6.60 and a beta of 0.75.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.09. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. Equities research analysts anticipate that Bausch Health Companies will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the sale, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.12% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Salem Investment Counselors Inc. purchased a new position in shares of Bausch Health Companies during the first quarter valued at approximately $32,000. Principal Securities Inc. bought a new position in Bausch Health Companies in the 4th quarter worth about $31,000. Headlands Technologies LLC bought a new position in Bausch Health Companies in the 2nd quarter worth about $35,000. MQS Management LLC bought a new position in Bausch Health Companies in the 2nd quarter worth about $71,000. Finally, Certuity LLC purchased a new position in shares of Bausch Health Companies in the 2nd quarter worth about $75,000. 78.65% of the stock is currently 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.