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

Bausch Health Companies (NYSE:BHC) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other research analysts have also issued reports on the company. Truist Financial decreased 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. Royal Bank of Canada lowered their price objective 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. Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Jefferies Financial Group lowered their price target on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Scotiabank dropped their price objective on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bausch Health Companies currently has an average rating of “Hold” and a consensus target price of $7.33.

Bausch Health Companies Stock Performance

Shares of BHC opened at $8.12 on Friday. The company’s 50-day simple moving average is $7.22 and its 200-day simple moving average is $7.09. Bausch Health Companies has a 1 year low of $3.96 and a 1 year high of $11.46. The stock has a market capitalization of $2.93 billion, a PE ratio of -6.55 and a beta of 0.77.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, topping 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 the consensus estimate of $2.33 billion. During the same period in the prior year, the firm earned $0.81 EPS. On average, sell-side analysts predict that Bausch Health Companies will post 3.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $2,702,579.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 8.12% of the stock is owned by corporate insiders.

Institutional Trading of Bausch Health Companies

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Bausch Health Companies during the 3rd quarter worth approximately $1,910,000. Creative Planning boosted its holdings in shares of Bausch Health Companies by 16.9% in the third quarter. Creative Planning now owns 55,351 shares of the company’s stock valued at $452,000 after acquiring an additional 7,995 shares during the period. Clearline Capital LP purchased a new position in shares of Bausch Health Companies during the second quarter worth approximately $6,881,000. Mackenzie Financial Corp grew its position in shares of Bausch Health Companies by 111.0% during the second quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after acquiring an additional 1,252,834 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Bausch Health Companies by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company’s stock valued at $1,719,000 after acquiring an additional 4,944 shares during the period. Institutional investors and hedge funds own 78.65% of the company’s stock.

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.