Bausch Health Companies (NYSE:BHC) PT Lowered to $8.50

Bausch Health Companies (NYSE:BHC) had its price objective reduced by investment analysts at Scotiabank from $10.00 to $8.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 49.12% from the company’s previous close.

Other equities analysts have also issued reports about the company. Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $9.00 to $3.00 in a research report on Friday. Raymond James started coverage on shares of Bausch Health Companies in a report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 target price for the company. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Royal Bank of Canada cut their price objective on Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 23rd. Finally, Truist Financial decreased their target price 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.58.

Bausch Health Companies Stock Performance

Bausch Health Companies stock traded down $0.40 during mid-day trading on Friday, hitting $5.70. 2,508,809 shares of the company traded hands, compared to its average volume of 3,273,287. Bausch Health Companies has a one year low of $3.96 and a one year high of $11.46. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -4.65 and a beta of 0.77. The stock has a fifty day moving average price of $6.70 and a 200-day moving average price of $7.96.

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, topping the consensus estimate of $0.89 by $0.09. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.33 billion. Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Sell-side analysts predict that Bausch Health Companies will post 3.6 EPS for the current year.

Institutional Investors Weigh In On Bausch Health Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of BHC. CIBC Asset Management Inc grew its stake in shares of Bausch Health Companies by 8.8% in the 2nd quarter. CIBC Asset Management Inc now owns 373,647 shares of the company’s stock worth $2,604,000 after buying an additional 30,124 shares during the last quarter. Van ECK Associates Corp raised its holdings in Bausch Health Companies by 3.9% in the 2nd quarter. Van ECK Associates Corp now owns 302,471 shares of the company’s stock worth $2,108,000 after purchasing an additional 11,379 shares during the period. Tobam lifted its position in Bausch Health Companies by 48.9% during the second quarter. Tobam now owns 26,148 shares of the company’s stock valued at $182,000 after purchasing an additional 8,586 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Bausch Health Companies by 6.9% during the second 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, Bfsg LLC increased its position in Bausch Health Companies by 46.7% in the second 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. Hedge funds and other institutional investors own 78.65% of the company’s stock.

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.