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

Bausch Health Companies Inc. (NYSE:BHC) has received an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.33.

A number of analysts recently commented on the company. Raymond James assumed coverage on Bausch Health Companies in a report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 price target on the stock. Truist Financial dropped their price target on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $9.00 to $3.00 in a report on Friday, August 2nd. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Finally, Jefferies Financial Group decreased their target price on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

Bausch Health Companies Stock Down 1.3 %

BHC stock opened at $6.30 on Friday. Bausch Health Companies has a twelve month low of $3.96 and a twelve month high of $11.46. The stock’s 50 day moving average is $6.26 and its 200-day moving average is $7.42. The firm has a market capitalization of $2.27 billion, a PE ratio of -5.08 and a beta of 0.75.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.33 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. During the same period last year, the company posted $0.81 earnings per share. On average, equities research analysts anticipate that Bausch Health Companies will post 3.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.21, for a total value of $83,027.70. Following the completion of the transaction, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 8.12% of the company’s stock.

Hedge Funds Weigh In On Bausch Health Companies

Hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. purchased a new position in shares of Bausch Health Companies in the fourth quarter valued at $31,000. Salem Investment Counselors Inc. purchased a new position in shares of Bausch Health Companies in the first quarter valued at $32,000. Headlands Technologies LLC purchased a new position in shares of Bausch Health Companies in the second quarter valued at $35,000. MQS Management LLC purchased a new position in shares of Bausch Health Companies in the second quarter valued at $71,000. Finally, Certuity LLC purchased a new position in shares of Bausch Health Companies in the second quarter valued at $75,000. 78.65% of the stock is currently owned by hedge funds and other 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.