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

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

Other research analysts have also recently issued reports about the company. Royal Bank of Canada decreased their price objective on Bausch Health Companies from $12.00 to $11.00 and set a sector perform rating on the stock in a report on Tuesday, April 23rd. Truist Financial decreased their price target on Bausch Health Companies from $8.00 to $7.00 and set a hold rating on the stock in a research note on Thursday, July 25th. Piper Sandler raised their price objective on Bausch Health Companies from $7.00 to $9.00 and gave the stock a neutral rating in a research report on Monday, April 29th. Finally, Raymond James assumed coverage on shares of Bausch Health Companies in a research report on Wednesday, July 10th. They issued a market perform rating and a $8.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $9.80.

Bausch Health Companies Stock Up 0.2 %

Shares of BHC opened at $5.96 on Friday. Bausch Health Companies has a 52-week low of $3.96 and a 52-week high of $11.46. The stock has a fifty day simple moving average of $6.70 and a two-hundred day simple moving average of $7.97. The company 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 released its quarterly earnings data on Thursday, May 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.16). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.18 billion. Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. As a group, equities analysts anticipate that Bausch Health Companies will post 3.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bausch Health Companies

Several hedge funds have recently bought and sold shares of BHC. Tobam increased its stake in Bausch Health Companies by 48.9% during the second quarter. Tobam now owns 26,148 shares of the company’s stock worth $182,000 after purchasing an additional 8,586 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 worth $423,000 after buying an additional 3,923 shares during the period. Bfsg LLC lifted its holdings in Bausch Health Companies by 46.7% during the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after buying an additional 3,643 shares in the last quarter. Thompson Investment Management Inc. boosted its position in Bausch Health Companies by 12.7% in the 2nd quarter. Thompson Investment Management Inc. now owns 237,586 shares of the company’s stock valued at $1,656,000 after buying an additional 26,692 shares during the period. Finally, Hein Park Capital Management LP grew its stake in shares of Bausch Health Companies by 56.9% in the first quarter. Hein Park Capital Management LP now owns 1,653,579 shares of the company’s stock worth $17,544,000 after acquiring an additional 600,000 shares in the last quarter. 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.