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

Bausch Health Companies (NYSE:BHC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other analysts also recently issued reports on BHC. Royal Bank of Canada decreased their target price on Bausch Health Companies from $9.00 to $8.50 and set a “sector perform” rating on the stock in a research note on Monday, April 7th. Jefferies Financial Group reiterated a “hold” rating and set a $8.00 price objective (down previously from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, Bausch Health Companies has a consensus rating of “Hold” and a consensus target price of $7.17.

Bausch Health Companies Trading Up 5.8 %

Shares of NYSE:BHC opened at $5.47 on Wednesday. The stock has a 50 day moving average of $6.25 and a 200 day moving average of $7.34. The company has a market cap of $2.01 billion, a PE ratio of -45.58, a price-to-earnings-growth ratio of 0.37 and a beta of 0.43. Bausch Health Companies has a 12-month low of $3.96 and a 12-month high of $9.85.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.44). The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. Equities research analysts predict that Bausch Health Companies will post 4.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BHC. Tobam lifted its position in Bausch Health Companies by 10.4% during the fourth quarter. Tobam now owns 15,034 shares of the company’s stock valued at $121,000 after purchasing an additional 1,422 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Bausch Health Companies by 1.0% in the 4th quarter. Toronto Dominion Bank now owns 167,212 shares of the company’s stock valued at $1,350,000 after acquiring an additional 1,712 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Bausch Health Companies by 7.9% in the 4th quarter. Wells Fargo & Company MN now owns 25,907 shares of the company’s stock valued at $209,000 after acquiring an additional 1,896 shares during the last quarter. American Century Companies Inc. grew its position in Bausch Health Companies by 10.6% in the fourth quarter. American Century Companies Inc. now owns 27,236 shares of the company’s stock worth $220,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Bausch Health Companies by 3.2% during the fourth quarter. Blair William & Co. IL now owns 84,707 shares of the company’s stock worth $683,000 after acquiring an additional 2,622 shares during the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

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.