Bausch Health Companies (NYSE:BHC) Downgraded to Hold at StockNews.com

Bausch Health Companies (NYSE:BHC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities analysts have also recently commented on BHC. Piper Sandler increased their price target on shares of Bausch Health Companies from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Royal Bank of Canada lowered their price target on Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating for the company in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group reduced their price objective on Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Bausch Health Companies has a consensus rating of “Hold” and an average target price of $11.33.

Bausch Health Companies Trading Down 1.4 %

BHC stock traded down $0.10 during trading on Tuesday, reaching $7.42. The stock had a trading volume of 2,282,690 shares, compared to its average volume of 2,838,404. The firm has a fifty day moving average price of $9.20 and a 200 day moving average price of $8.22. The company has a market capitalization of $2.72 billion, a P/E ratio of -5.98 and a beta of 0.90. Bausch Health Companies has a 1-year low of $5.57 and a 1-year high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.01 by $0.14. Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that Bausch Health Companies will post 3.96 EPS for the current year.

Hedge Funds Weigh In On Bausch Health Companies

Several institutional investors have recently made changes to their positions in BHC. Principal Securities Inc. acquired a new position in Bausch Health Companies during the 4th quarter valued at approximately $31,000. Salem Investment Counselors Inc. bought a new position in shares of Bausch Health Companies during the first quarter worth about $32,000. Tower Research Capital LLC TRC increased its holdings in shares of Bausch Health Companies by 283.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after acquiring an additional 5,112 shares during the period. Bfsg LLC bought a new stake in Bausch Health Companies in the 4th quarter valued at about $63,000. Finally, Ausdal Financial Partners Inc. bought a new stake in Bausch Health Companies in the 3rd quarter valued at about $86,000. 78.65% of the stock is owned by institutional investors.

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.