Bank of America Trims Bausch Health Companies (NYSE:BHC) Target Price to $12.00

Bausch Health Companies (NYSE:BHC – Get Rating) had its price objective decreased by stock analysts at Bank of America from $25.00 to $12.00 in a research note issued on Wednesday, The Fly reports. Bank of America‘s target price would suggest a potential upside of 27.66% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada lowered their price target on Bausch Health Companies from $32.00 to $21.00 and set an “outperform” rating for the company in a report on Monday. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Tuesday, March 29th. Finally, TheStreet downgraded shares of Bausch Health Companies from a “c-” rating to a “d+” rating in a research note on Monday, March 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Bausch Health Companies currently has a consensus rating of “Buy” and an average target price of $23.25.

Shares of NYSE BHC opened at $9.40 on Wednesday. The stock has a market capitalization of $3.39 billion, a P/E ratio of -3.53, a PEG ratio of 0.31 and a beta of 1.62. Bausch Health Companies has a 52 week low of $7.80 and a 52 week high of $32.54. The stock’s fifty day moving average is $21.59 and its 200 day moving average is $24.34.

Bausch Health Companies (NYSE:BHC – Get Rating) last posted its quarterly earnings results on Wednesday, February 23rd. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.19. Bausch Health Companies had a negative net margin of 11.24% and a negative return on equity of 708.85%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the business posted $1.33 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts anticipate that Bausch Health Companies will post 4.5 earnings per share for the current year.

In other news, insider Robert Spurr sold 1,595 shares of the stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $22.19, for a total value of $35,393.05. Following the completion of the sale, the insider now owns 90,506 shares of the company’s stock, valued at $2,008,328.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph F. Gordon sold 3,889 shares of Bausch Health Companies stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $21.76, for a total value of $84,624.64. The disclosure for this sale can be found here. Insiders have sold a total of 16,668 shares of company stock worth $378,570 over the last three months. Insiders own 13.75% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Amplius Wealth Advisors LLC acquired a new position in shares of Bausch Health Companies in the 4th quarter valued at about $30,000. Glassman Wealth Services increased its holdings in Bausch Health Companies by 71.4% in the fourth quarter. Glassman Wealth Services now owns 1,152 shares of the company’s stock worth $32,000 after purchasing an additional 480 shares in the last quarter. WASHINGTON TRUST Co acquired a new position in Bausch Health Companies in the first quarter valued at approximately $28,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of Bausch Health Companies by 525.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,250 shares of the company’s stock worth $29,000 after buying an additional 1,050 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new stake in shares of Bausch Health Companies in the 3rd quarter valued at $228,000. 73.38% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Companies Company Profile (Get Rating)

Bausch Health Companies Inc, together with its subsidiaries, develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through five segments: Bausch + Lomb, Salix, International Rx, Ortho Dermatologics, and Diversified Products.

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