Bausch Health Companies (NYSE:BHC) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Bausch Health Companies (NYSE:BHC) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

A number of other brokerages have also recently issued reports on BHC. Evercore ISI raised Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. Truist Financial decreased their price objective on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Scotiabank cut their target price on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada decreased their price target on shares of 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. Finally, Jefferies Financial Group lowered 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Bausch Health Companies currently has an average rating of “Hold” and a consensus target price of $7.33.

Bausch Health Companies Stock Down 1.0 %

Shares of Bausch Health Companies stock opened at $8.04 on Friday. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The firm’s 50 day moving average is $7.26 and its two-hundred day moving average is $7.05. The firm has a market capitalization of $2.90 billion, a P/E ratio of -6.48 and a beta of 0.77.

Bausch Health Companies (NYSE:BHC) last issued its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.09. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the prior year, the business posted $0.81 EPS. As a group, research analysts expect that Bausch Health Companies will post 3.61 earnings per share for the current fiscal year.

Insider Activity at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at $2,702,579.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bausch Health Companies

Large investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. grew its position in Bausch Health Companies by 1,050.8% during the first quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock worth $36,135,000 after buying an additional 3,113,123 shares during the period. SG Americas Securities LLC grew its holdings in shares of Bausch Health Companies by 3,080.9% in the 1st quarter. SG Americas Securities LLC now owns 2,200,526 shares of the company’s stock worth $23,348,000 after acquiring an additional 2,131,347 shares during the period. Mackenzie Financial Corp increased its stake in Bausch Health Companies by 111.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock valued at $16,612,000 after purchasing an additional 1,252,834 shares in the last quarter. Clearline Capital LP acquired a new position in Bausch Health Companies during the second quarter worth $6,881,000. Finally, Hein Park Capital Management LP boosted its position in Bausch Health Companies by 56.9% during the first quarter. Hein Park Capital Management LP now owns 1,653,579 shares of the company’s stock worth $17,544,000 after purchasing an additional 600,000 shares in the last quarter. Hedge funds and other institutional investors 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.