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

StockNews.com upgraded shares of Bausch Health Companies (NYSE:BHC) from a hold rating to a buy rating in a research note released on Tuesday morning.

A number of other equities analysts have also weighed in on BHC. Truist Financial dropped their price objective on Bausch Health Companies from $8.00 to $7.00 and set a hold rating for the company in a research note on Thursday, July 25th. Raymond James initiated coverage on shares of Bausch Health Companies in a research report on Wednesday, July 10th. They set a market perform rating and a $8.00 price objective on the stock. Piper Sandler cut shares of Bausch Health Companies from a neutral rating to an underweight rating and reduced their price objective for the company from $9.00 to $3.00 in a research report on Friday, August 2nd. Jefferies Financial Group reduced their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reduced 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, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bausch Health Companies currently has an average rating of Hold and a consensus target price of $7.33.

Bausch Health Companies Stock Down 0.2 %

Shares of BHC stock opened at $5.96 on Tuesday. The company has a 50 day moving average price of $6.45 and a 200-day moving average price of $7.62. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The firm has a market capitalization of $2.15 billion, a PE ratio of -4.81 and a beta of 0.77.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.33 billion. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 813.85%. During the same quarter last year, the firm posted $0.81 earnings per share. Analysts anticipate that Bausch Health Companies will post 3.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BHC. Private Advisor Group LLC grew its holdings in shares of Bausch Health Companies by 58.8% in the fourth quarter. Private Advisor Group LLC now owns 28,705 shares of the company’s stock valued at $230,000 after purchasing an additional 10,625 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Bausch Health Companies in the fourth quarter valued at $31,000. Lebenthal Global Advisors LLC grew its holdings in shares of Bausch Health Companies by 17.5% in the fourth quarter. Lebenthal Global Advisors LLC now owns 57,857 shares of the company’s stock valued at $464,000 after purchasing an additional 8,633 shares in the last quarter. AGF Management Ltd. purchased a new position in shares of Bausch Health Companies in the fourth quarter valued at $252,000. Finally, Jump Financial LLC grew its holdings in shares of Bausch Health Companies by 1,710.3% in the fourth quarter. Jump Financial LLC now owns 201,612 shares of the company’s stock valued at $1,617,000 after purchasing an additional 190,475 shares in the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

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.