Bausch Health Companies Inc. (NYSE:BHC) Receives $7.75 Average PT from Analysts

Bausch Health Companies Inc. (NYSE:BHC) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $7.75.

A number of analysts have recently commented on the company. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Jefferies Financial Group decreased 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 research note on Wednesday, August 7th. Piper Sandler lowered shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $9.00 to $3.00 in a research report on Friday, August 2nd. Scotiabank reduced their target price on shares of 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. Finally, Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th.

Bausch Health Companies Price Performance

NYSE:BHC opened at $9.35 on Friday. The business’s 50-day simple moving average is $7.90 and its 200-day simple moving average is $7.10. Bausch Health Companies has a fifty-two week low of $3.96 and a fifty-two week high of $11.46. The stock has a market capitalization of $3.44 billion, a PE ratio of -19.47 and a beta of 0.74.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts expect that Bausch Health Companies will post 3.73 earnings per share for the current year.

Insider Activity

In other news, EVP Seana Carson sold 13,370 shares of the company’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 sale, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.12% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Companies

A number of large investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its position in shares of Bausch Health Companies by 0.3% in the third quarter. CIBC Asset Management Inc now owns 374,729 shares of the company’s stock valued at $3,060,000 after purchasing an additional 1,082 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Bausch Health Companies by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock valued at $933,000 after purchasing an additional 3,519 shares during the last quarter. Bfsg LLC increased its stake in shares of Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after purchasing an additional 3,643 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bausch Health Companies by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock worth $423,000 after purchasing an additional 3,923 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in Bausch Health Companies by 5.0% during the 1st quarter. Blair William & Co. IL now owns 84,245 shares of the company’s stock worth $894,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 78.65% of the company’s stock.

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.