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

StockNews.com cut shares of Bausch Health Companies (NYSE:BHC) from a buy rating to a hold rating in a report published on Thursday morning.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group reduced their target price on 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. Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $9.00 to $3.00 in a report on Friday, August 2nd. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. Truist Financial reduced their price target on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lowered their price objective on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Bausch Health Companies has a consensus rating of “Hold” and a consensus price target of $7.33.

Bausch Health Companies Stock Performance

Bausch Health Companies stock opened at $8.16 on Thursday. Bausch Health Companies has a fifty-two week low of $3.96 and a fifty-two week high of $11.46. The stock has a market cap of $2.95 billion, a P/E ratio of -6.58 and a beta of 0.77. The firm’s fifty day moving average price is $7.01 and its 200-day moving average price is $7.12.

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

Insider Buying and Selling at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.21, for a total value of $83,027.70. Following the transaction, the executive vice president now owns 435,198 shares in the company, valued at approximately $2,702,579.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.12% of the company’s stock.

Institutional Trading of Bausch Health Companies

A number of institutional investors have recently modified their holdings of the company. Salem Investment Counselors Inc. bought a new position in Bausch Health Companies during the 1st quarter valued at approximately $32,000. CANADA LIFE ASSURANCE Co lifted its stake in Bausch Health Companies by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock worth $933,000 after acquiring an additional 3,519 shares during the period. Bfsg LLC boosted its holdings in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Bausch Health Companies by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock valued at $423,000 after purchasing an additional 3,923 shares during the period. Finally, Blair William & Co. IL raised its holdings in Bausch Health Companies by 5.0% in the 1st quarter. Blair William & Co. IL now owns 84,245 shares of the company’s stock worth $894,000 after purchasing an additional 4,000 shares in the last quarter. 78.65% of the stock is currently 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.