Bausch Health Companies Inc. (NYSE:BHC) Given Average Recommendation of “Hold” by Brokerages

Shares of Bausch Health Companies Inc. (NYSE:BHC) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $7.75.

BHC has been the topic of a number of recent analyst reports. Evercore ISI raised Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Royal Bank of Canada upped their price objective on shares of Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th.

Bausch Health Companies Price Performance

Shares of BHC opened at $7.44 on Thursday. The company has a market cap of $2.69 billion, a PE ratio of -15.49 and a beta of 0.69. The firm has a 50-day moving average of $7.92 and a 200-day moving average of $7.45. Bausch Health Companies has a one year low of $3.96 and a one year high of $11.46.

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

Institutional Investors Weigh In On Bausch Health Companies

A number of hedge funds and other institutional investors have recently modified their holdings of BHC. Goldentree Asset Management LP grew its stake in shares of Bausch Health Companies by 31.0% in the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock valued at $239,552,000 after acquiring an additional 6,958,717 shares in the last quarter. Bank of Montreal Can boosted its holdings in Bausch Health Companies by 234.0% in the 3rd quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock valued at $31,598,000 after purchasing an additional 2,685,675 shares during the period. Maple Rock Capital Partners Inc. acquired a new position in shares of Bausch Health Companies during the 3rd quarter worth approximately $16,850,000. SG Americas Securities LLC increased its holdings in shares of Bausch Health Companies by 62.0% during the fourth quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company’s stock worth $26,614,000 after purchasing an additional 1,263,706 shares during the period. Finally, Mackenzie Financial Corp raised 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 buying an additional 1,252,834 shares in 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.