Bausch Health Companies Inc. (NYSE:BHC) Receives Average Recommendation of “Hold” from Brokerages

Bausch Health Companies Inc. (NYSE:BHC) has been given a consensus recommendation of “Hold” by the six analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.33.

Several brokerages have weighed in on BHC. Piper Sandler lowered shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. Truist Financial dropped their price objective on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Jefferies Financial Group decreased their price objective on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Scotiabank dropped their target price 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. Finally, StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th.

Bausch Health Companies Price Performance

Bausch Health Companies stock opened at $7.95 on Tuesday. The business has a 50 day simple moving average of $6.71 and a 200-day simple moving average of $7.20. The stock has a market capitalization of $2.87 billion, a PE ratio of -6.41 and a beta of 0.77. Bausch Health Companies has a 12 month low of $3.96 and a 12 month high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.33 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, equities research analysts anticipate that Bausch Health Companies will post 3.61 EPS for the current fiscal year.

Insider Activity

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of Bausch Health Companies stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the sale, the executive vice president now owns 435,198 shares of the company’s stock, valued at $2,702,579.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. purchased a new position in Bausch Health Companies during the first quarter valued at approximately $32,000. Headlands Technologies LLC acquired a new stake in Bausch Health Companies in the 2nd quarter valued at approximately $35,000. MQS Management LLC bought a new position in Bausch Health Companies during the second quarter worth $71,000. Certuity LLC acquired a new position in shares of Bausch Health Companies during the second quarter valued at about $75,000. Finally, Bfsg LLC raised its holdings in Bausch Health Companies by 46.7% in the 2nd 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. 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.