Wall Street Zen Downgrades Bausch Health Cos (NYSE:BHC) to Buy

Bausch Health Cos (NYSE:BHC) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other analysts have also commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Bausch Health Cos in a research report on Monday, December 29th. Raymond James Financial raised shares of Bausch Health Cos to a “hold” rating in a research note on Monday, December 15th. Barclays initiated coverage on Bausch Health Cos in a research report on Monday, December 8th. They set an “equal weight” rating and a $8.00 target price on the stock. Finally, Truist Financial upped their price target on Bausch Health Cos from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, January 7th. Six investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.50.

Bausch Health Cos Trading Down 3.9%

Bausch Health Cos stock opened at $6.98 on Friday. The firm has a market cap of $2.59 billion, a PE ratio of 7.20 and a beta of 0.37. Bausch Health Cos has a 12 month low of $4.25 and a 12 month high of $8.69. The stock’s 50 day simple moving average is $6.90 and its two-hundred day simple moving average is $6.77. The company has a current ratio of 1.30, a quick ratio of 0.97 and a debt-to-equity ratio of 57.48.

Institutional Investors Weigh In On Bausch Health Cos

Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Bausch Health Cos by 6,661.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock valued at $35,000 after acquiring an additional 5,329 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Bausch Health Cos by 65.9% during the second quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock worth $51,000 after purchasing an additional 3,106 shares in the last quarter. Alpha Wealth Funds LLC acquired a new position in Bausch Health Cos in the 2nd quarter valued at $65,000. Stratos Wealth Advisors LLC purchased a new position in Bausch Health Cos in the 2nd quarter valued at $67,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Bausch Health Cos in the 1st quarter valued at $68,000. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Cos

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.