Brokerages Set Bausch Health Companies Inc. (NYSE:BHC) PT at $7.75

Bausch Health Companies Inc. (NYSE:BHC) has been given an average rating of “Hold” by the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $7.75.

Several equities analysts recently issued reports on the stock. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Royal Bank of Canada upped their price objective on shares of Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th.

Bausch Health Companies Stock Performance

NYSE BHC opened at $7.53 on Friday. Bausch Health Companies has a fifty-two week low of $3.96 and a fifty-two week high of $11.46. The firm has a market capitalization of $2.72 billion, a P/E ratio of -15.69 and a beta of 0.69. The stock has a 50-day simple moving average of $8.30 and a two-hundred day simple moving average of $7.31.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.10. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the business earned $1.03 earnings per share. Bausch Health Companies’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, analysts forecast that Bausch Health Companies will post 3.74 earnings per share for the current year.

Institutional Trading of Bausch Health Companies

Several institutional investors have recently modified their holdings of BHC. CIBC Asset Management Inc increased its position in shares of Bausch Health Companies by 0.3% during the third quarter. CIBC Asset Management Inc now owns 374,729 shares of the company’s stock worth $3,060,000 after purchasing an additional 1,082 shares in the last quarter. Bfsg LLC raised its stake in Bausch Health Companies by 46.7% during the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after purchasing an additional 3,643 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in Bausch Health Companies by 13.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 32,384 shares of the company’s stock valued at $264,000 after purchasing an additional 3,734 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Bausch Health Companies by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock valued at $423,000 after buying an additional 3,923 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Bausch Health Companies by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company’s stock worth $1,719,000 after buying an additional 4,944 shares during the last quarter. Institutional investors and hedge funds 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.