Bausch Health Cos (NYSE:BHC) Price Target Raised to $9.00

Bausch Health Cos (NYSE:BHC) had its target price hoisted by Barclays from $7.00 to $9.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

BHC has been the topic of several other reports. Royal Bank Of Canada increased their price objective on Bausch Health Cos from $9.00 to $10.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. Weiss Ratings restated a “sell (d)” rating on shares of Bausch Health Cos in a report on Thursday, October 29th. Zacks Research lowered Bausch Health Cos from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 5th. Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Jefferies Financial Group boosted their price objective on Bausch Health Cos from $6.50 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $8.75.

Bausch Health Cos Price Performance

Shares of Bausch Health Cos stock opened at $8.36 on Wednesday. The business has a 50-day moving average of $6.57 and a 200 day moving average of $5.80. Bausch Health Cos has a 12 month low of $4.33 and a 12 month high of $9.04. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -3.65 and a beta of 0.30.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.52. Bausch Health Cos had a negative net margin of 7.57% and a negative return on equity of 401.73%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Equities research analysts anticipate that Bausch Health Cos will post 4.53 earnings per share for the current year.

Insider Buying and Selling

In other Bausch Health Cos news, insider Aimee Lenar sold 36,827 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total transaction of $258,893.81. Following the completion of the sale, the insider directly owned 334,853 shares of the company’s stock, valued at approximately $2,354,016.59. This trade represents a 9.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bausch Health Cos

Several large investors have recently modified their holdings of BHC. Marshall Wace LLP lifted its stake in shares of Bausch Health Cos by 1,280.1% in the 3rd quarter. Marshall Wace LLP now owns 2,570,980 shares of the company’s stock worth $14,997,000 after acquiring an additional 2,384,684 shares during the period. Empowered Funds LLC acquired a new position in shares of Bausch Health Cos during the third quarter worth about $65,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Bausch Health Cos by 13.0% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 369,470 shares of the company’s stock worth $2,152,000 after purchasing an additional 42,432 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Bausch Health Cos in the third quarter valued at about $104,000. Finally, Cibc World Market Inc. lifted its position in Bausch Health Cos by 335.3% in the third quarter. Cibc World Market Inc. now owns 641,095 shares of the company’s stock valued at $3,735,000 after purchasing an additional 493,828 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.

About Bausch Health Cos

Bausch Health Companies Inc. is a global specialty pharmaceutical and medical products company headquartered in Laval, Quebec. It develops, manufactures and markets prescription medicines, over-the-counter products and medical devices, with businesses spanning eye health, gastroenterology, dermatology, neurology and aesthetics. Its portfolio includes Salix products for gastrointestinal conditions, Ortho Dermatologics treatments for skin conditions and Solta Medical aesthetic devices. Bausch Health also retains a controlling ownership interest in Bausch + Lomb, a publicly traded eye-health company whose products include contact lenses, lens care products, pharmaceuticals and surgical devices.