Brokerages Set Bausch Health Cos Inc. (NYSE:BHC) PT at $8.50

Bausch Health Cos Inc. (NYSE:BHC) has been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $8.6667.

Several analysts have recently issued reports on the company. Raymond James Financial reiterated a “market perform” rating on shares of Bausch Health Cos in a research note on Monday, January 26th. Barclays assumed coverage on Bausch Health Cos in a research report on Monday, December 8th. They issued an “equal weight” rating and a $8.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Bausch Health Cos in a research note on Monday, December 29th. Truist Financial upped their target price on shares of Bausch Health Cos from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, January 7th. Finally, Wall Street Zen raised shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday.

Hedge Funds Weigh In On Bausch Health Cos

A number of institutional investors and hedge funds have recently modified their holdings of BHC. Paulson & CO. Inc. grew its stake in Bausch Health Cos by 24.0% during the 2nd quarter. Paulson & CO. Inc. now owns 32,791,702 shares of the company’s stock worth $218,393,000 after buying an additional 6,352,667 shares during the last quarter. Goldentree Asset Management LP lifted its stake in Bausch Health Cos by 13.2% in the second quarter. Goldentree Asset Management LP now owns 34,254,889 shares of the company’s stock valued at $227,848,000 after buying an additional 4,004,889 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Bausch Health Cos in the second quarter valued at approximately $22,644,000. SG Americas Securities LLC grew its position in shares of Bausch Health Cos by 114.4% during the second quarter. SG Americas Securities LLC now owns 6,152,986 shares of the company’s stock worth $40,979,000 after acquiring an additional 3,282,684 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. grew its position in shares of Bausch Health Cos by 14.9% during the second quarter. Maple Rock Capital Partners Inc. now owns 7,808,487 shares of the company’s stock worth $52,005,000 after acquiring an additional 1,010,987 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Cos Trading Up 2.8%

NYSE BHC opened at $5.89 on Thursday. The company has a debt-to-equity ratio of 57.48, a quick ratio of 0.97 and a current ratio of 1.30. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 6.07 and a beta of 0.42. The firm has a 50 day simple moving average of $6.81 and a 200-day simple moving average of $6.71. Bausch Health Cos has a one year low of $4.25 and a one year high of $8.69.

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.