Royal Bank of Canada Cuts Bausch Health Companies (NYSE:BHC) Price Target to $11.00

Bausch Health Companies (NYSE:BHC) had its price objective reduced by Royal Bank of Canada from $12.00 to $11.00 in a research note released on Tuesday, Benzinga reports. They currently have a sector perform rating on the stock.

BHC has been the topic of a number of other research reports. Jefferies Financial Group lowered their target price on Bausch Health Companies from $16.00 to $14.00 and set a buy rating on the stock in a research note on Tuesday, February 20th. StockNews.com upgraded Bausch Health Companies from a hold rating to a buy rating in a research note on Wednesday, February 7th.

Bausch Health Companies Trading Up 0.9 %

Shares of BHC stock opened at $8.53 on Tuesday. Bausch Health Companies has a 1-year low of $5.57 and a 1-year high of $11.46. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -5.27 and a beta of 0.85. The stock’s fifty day simple moving average is $9.29 and its 200-day simple moving average is $8.16.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. Bausch Health Companies had a positive return on equity of 5,147.48% and a negative net margin of 6.76%. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. Bausch Health Companies’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Bausch Health Companies will post 3.95 EPS for the current year.

Institutional Trading of Bausch Health Companies

Several large investors have recently made changes to their positions in BHC. Nomura Holdings Inc. boosted its stake in shares of Bausch Health Companies by 67.7% during the 3rd quarter. Nomura Holdings Inc. now owns 18,086,000 shares of the company’s stock worth $148,667,000 after acquiring an additional 7,303,015 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Bausch Health Companies during the 3rd quarter worth about $57,540,000. Goldentree Asset Management LP boosted its stake in shares of Bausch Health Companies by 19.6% during the 3rd quarter. Goldentree Asset Management LP now owns 23,987,462 shares of the company’s stock worth $197,177,000 after acquiring an additional 3,931,234 shares in the last quarter. Norges Bank bought a new stake in shares of Bausch Health Companies during the 4th quarter worth about $31,121,000. Finally, Hudson Bay Capital Management LP boosted its stake in shares of Bausch Health Companies by 35.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 11,500,000 shares of the company’s stock worth $94,530,000 after acquiring an additional 3,000,000 shares in the last quarter. Institutional investors own 78.65% of the company’s stock.

About Bausch Health Companies

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.