Bausch Health Cos (NYSE:BHC) Price Target Lowered to $7.00 at Barclays

Bausch Health Cos (NYSE:BHC) had its price target cut by Barclays from $8.00 to $7.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also commented on the stock. Wall Street Zen lowered shares of Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. Raymond James Financial reaffirmed a “market perform” rating on shares of Bausch Health Cos in a report on Monday, January 26th. Weiss Ratings lowered Bausch Health Cos from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday, February 19th. Finally, Truist Financial upped their price objective on Bausch Health Cos from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, January 7th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $8.33.

Bausch Health Cos Stock Performance

NYSE BHC opened at $6.10 on Wednesday. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.47 and a quick ratio of 1.08. Bausch Health Cos has a 1-year low of $4.25 and a 1-year high of $8.69. The business has a 50 day simple moving average of $6.57 and a two-hundred day simple moving average of $6.70. The stock has a market capitalization of $2.26 billion, a PE ratio of 14.53 and a beta of 0.42.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.13). Bausch Health Cos had a return on equity of 875.00% and a net margin of 1.53%.The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.71 billion. On average, research analysts predict that Bausch Health Cos will post 4.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch Health Cos

Hedge funds and other institutional investors have recently modified their holdings of the business. Paulson & CO. Inc. boosted its holdings 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 valued at $218,393,000 after acquiring an additional 6,352,667 shares during the period. Goldentree Asset Management LP lifted its position in shares of Bausch Health Cos by 13.2% during the second quarter. Goldentree Asset Management LP now owns 34,254,889 shares of the company’s stock worth $227,848,000 after purchasing an additional 4,004,889 shares during the last quarter. Norges Bank purchased a new stake in shares of Bausch Health Cos during the fourth quarter valued at $25,592,000. MUFG Securities EMEA plc bought a new position in shares of Bausch Health Cos in the second quarter worth about $22,644,000. Finally, SG Americas Securities LLC increased its stake in Bausch Health Cos by 114.4% in the 2nd quarter. SG Americas Securities LLC now owns 6,152,986 shares of the company’s stock worth $40,979,000 after buying an additional 3,282,684 shares during the period. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Bausch Health Cos Company Profile

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.