Bausch Health Cos (NYSE:BHC) Rating Increased to Hold at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Bausch Health Cos (NYSE:BHC) to a hold rating in a report issued on Wednesday,Zacks.com reports.

Several other research analysts have also commented on the company. Royal Bank Of Canada cut their price objective on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Weiss Ratings downgraded Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.00.

Bausch Health Cos Price Performance

BHC opened at $4.57 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 54.68. Bausch Health Cos has a 52-week low of $4.33 and a 52-week high of $8.69. The company has a 50 day moving average of $5.04 and a two-hundred day moving average of $5.58. The company has a market cap of $1.71 billion, a P/E ratio of -1.41 and a beta of 0.42.

Bausch Health Cos (NYSE:BHC) last issued its earnings results on Wednesday, April 29th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Bausch Health Cos had a negative net margin of 11.47% and a negative return on equity of 2,922.77%. On average, analysts expect that Bausch Health Cos will post 4.05 earnings per share for the current year.

Insider Buying and Selling at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the transaction, the director directly owned 49,339 shares in the company, valued at approximately $267,910.77. This represents a 33.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 20.67% of the company’s stock.

Hedge Funds Weigh In On Bausch Health Cos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHC. Paulson & CO. Inc. grew its stake in shares of Bausch Health Cos by 3.5% during the fourth quarter. Paulson & CO. Inc. now owns 73,255,869 shares of the company’s stock valued at $509,128,000 after acquiring an additional 2,500,000 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Bausch Health Cos by 24.9% in the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock worth $61,362,000 after acquiring an additional 2,262,894 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Bausch Health Cos by 65.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,143,641 shares of the company’s stock valued at $35,748,000 after purchasing an additional 2,038,813 shares during the last quarter. Norges Bank purchased a new position in Bausch Health Cos in the fourth quarter valued at about $25,592,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Bausch Health Cos by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,604,818 shares of the company’s stock valued at $19,456,000 after purchasing an additional 350,823 shares during the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

Bausch Health Cos Company Profile

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.