Bausch Health Companies (NYSE:BHC) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Bausch Health Companies (NYSE:BHC) had its price target increased by Royal Bank of Canada from $10.00 to $11.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Truist Financial reduced their target price on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Scotiabank cut their price target on 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. Raymond James assumed coverage on Bausch Health Companies in a research note on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 price objective for the company. Finally, Jefferies Financial Group cut their target price on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.75.

Bausch Health Companies Price Performance

Bausch Health Companies stock opened at $9.26 on Friday. Bausch Health Companies has a 1-year low of $3.96 and a 1-year high of $11.46. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of -20.08 and a beta of 0.74. The firm has a 50 day simple moving average of $7.55 and a 200-day simple moving average of $7.05.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 850.93%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue was up 12.2% on a year-over-year basis. Equities analysts expect that Bausch Health Companies will post 3.6 earnings per share for the current fiscal year.

Insider Transactions at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,702,579.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.12% of the company’s stock.

Hedge Funds Weigh In On Bausch Health Companies

Several large investors have recently bought and sold shares of BHC. Headlands Technologies LLC acquired a new stake in shares of Bausch Health Companies during the second quarter worth about $35,000. MQS Management LLC purchased a new position in Bausch Health Companies during the 2nd quarter worth approximately $71,000. Certuity LLC acquired a new position in Bausch Health Companies during the second quarter worth approximately $75,000. Bfsg LLC boosted its holdings in shares of Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after acquiring an additional 3,643 shares during the period. Finally, Kendall Capital Management purchased a new position in shares of Bausch Health Companies during the second quarter worth approximately $87,000. 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.