Analysts Set Bausch Health Companies Inc. (NYSE:BHC) PT at $7.75

Bausch Health Companies Inc. (NYSE:BHC) has been assigned an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $7.75.

Several research firms recently issued reports on BHC. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Evercore ISI raised Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Jefferies Financial Group lowered their price target on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada raised their price objective on Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Finally, Scotiabank lowered their target price on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd.

Bausch Health Companies Stock Performance

BHC opened at $8.37 on Wednesday. Bausch Health Companies has a 52-week low of $3.96 and a 52-week high of $11.46. The firm has a market cap of $3.01 billion, a P/E ratio of -16.92 and a beta of 0.74. The business’s fifty day moving average is $8.40 and its 200-day moving average is $7.13.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, topping 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 business 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 business posted $1.03 earnings per share. Bausch Health Companies’s revenue was up 12.2% compared to the same quarter last year. On average, research analysts predict that Bausch Health Companies will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the transaction, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. The trade was a 2.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bausch Health Companies

Several hedge funds and other institutional investors have recently bought and sold shares of BHC. Goldentree Asset Management LP grew its position in shares of Bausch Health Companies by 31.0% during the 3rd quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock worth $239,552,000 after buying an additional 6,958,717 shares during the period. Vanguard Group Inc. lifted its stake in Bausch Health Companies by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 11,713,993 shares of the company’s stock valued at $124,285,000 after acquiring an additional 114,862 shares in the last quarter. Bank of Montreal Can boosted its holdings in Bausch Health Companies by 234.0% during the third quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock worth $31,598,000 after purchasing an additional 2,685,675 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Bausch Health Companies by 12.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,165,512 shares of the company’s stock valued at $22,063,000 after acquiring an additional 341,936 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Bausch Health Companies by 111.0% in the 2nd 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. 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.