Wall Street Zen Downgrades Bausch Health Cos (NYSE:BHC) to Buy

Bausch Health Cos (NYSE:BHC) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial upped their price target on shares of Bausch Health Cos from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, January 7th. Raymond James Financial upgraded shares of Bausch Health Cos to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Bausch Health Cos in a research report on Monday, December 29th. Finally, Barclays began coverage on shares of Bausch Health Cos in a research note on Monday, December 8th. They set an “equal weight” rating and a $8.00 price objective on the stock. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.50.

Bausch Health Cos Stock Performance

BHC opened at $6.98 on Friday. Bausch Health Cos has a fifty-two week low of $4.25 and a fifty-two week high of $8.69. The firm has a market cap of $2.59 billion, a PE ratio of 7.20 and a beta of 0.37. The company has a quick ratio of 0.97, a current ratio of 1.30 and a debt-to-equity ratio of 57.48. The business has a fifty day simple moving average of $6.90 and a 200-day simple moving average of $6.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHC. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bausch Health Cos by 6,661.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock worth $35,000 after buying an additional 5,329 shares during the last quarter. Russell Investments Group Ltd. raised its position in Bausch Health Cos by 65.9% in the second quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock worth $51,000 after acquiring an additional 3,106 shares during the period. Alpha Wealth Funds LLC purchased a new position in Bausch Health Cos in the second quarter valued at about $65,000. Stratos Wealth Advisors LLC purchased a new position in Bausch Health Cos in the second quarter valued at about $67,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Bausch Health Cos during the 1st quarter valued at approximately $68,000. Institutional investors own 78.65% of the company’s stock.

About Bausch Health Cos

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.