Bausch Health Companies (NYSE:BHC) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Bausch Health Companies (NYSE:BHCGet Rating) from a buy rating to a hold rating in a report issued on Wednesday morning.

Other analysts also recently issued research reports about the company. Royal Bank of Canada lowered their target price on Bausch Health Companies from $32.00 to $21.00 and set an outperform rating on the stock in a research report on Monday. Bank of America reduced their price objective on Bausch Health Companies from $25.00 to $12.00 in a report on Wednesday. BMO Capital Markets cut their price target on Bausch Health Companies from $26.00 to $15.00 in a research note on Wednesday. Finally, TheStreet cut Bausch Health Companies from a c- rating to a d+ rating in a research note on Monday, March 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $21.60.

BHC opened at $10.13 on Wednesday. The business’s 50-day moving average price is $21.32 and its two-hundred day moving average price is $24.24. Bausch Health Companies has a 1 year low of $7.80 and a 1 year high of $32.54. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -3.81, a P/E/G ratio of 0.31 and a beta of 1.62.

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

In other Bausch Health Companies news, insider Joseph F. Gordon sold 6,338 shares of the company’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $23.82, for a total transaction of $150,971.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Spurr sold 4,846 shares of the company’s stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $22.20, for a total transaction of $107,581.20. The disclosure for this sale can be found here. Insiders sold 16,668 shares of company stock valued at $378,570 over the last 90 days. 13.75% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Snider Financial Group boosted its position in Bausch Health Companies by 4.1% during the fourth quarter. Snider Financial Group now owns 10,868 shares of the company’s stock valued at $302,000 after acquiring an additional 431 shares during the last quarter. Glassman Wealth Services boosted its position in Bausch Health Companies by 71.4% during the fourth quarter. Glassman Wealth Services now owns 1,152 shares of the company’s stock valued at $32,000 after acquiring an additional 480 shares during the last quarter. First Manhattan Co. boosted its position in Bausch Health Companies by 11.1% during the third quarter. First Manhattan Co. now owns 5,000 shares of the company’s stock valued at $139,000 after acquiring an additional 500 shares during the last quarter. Mariner LLC boosted its position in Bausch Health Companies by 3.2% during the third quarter. Mariner LLC now owns 20,462 shares of the company’s stock valued at $570,000 after acquiring an additional 643 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Bausch Health Companies by 7.3% during the 4th quarter. IFP Advisors Inc now owns 9,559 shares of the company’s stock worth $264,000 after purchasing an additional 651 shares in the last quarter. 73.38% of the stock is currently owned by institutional investors and hedge funds.

About Bausch Health Companies (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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Analyst Recommendations for Bausch Health Companies (NYSE:BHC)

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