Brokerages Set Bausch Health Cos Inc. (NYSE:BHC) Target Price at $8.33

Shares of Bausch Health Cos Inc. (NYSE:BHC) have earned a consensus recommendation of “Reduce” from the five brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.3333.

BHC has been the topic of a number of recent research reports. Truist Financial upped their target price 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. Barclays cut their target price on shares of Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Wall Street Zen downgraded 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 reiterated a “market perform” rating on shares of Bausch Health Cos in a research note on Monday, January 26th. Finally, Weiss Ratings downgraded shares of Bausch Health Cos from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, February 19th.

Bausch Health Cos Stock Down 1.6%

BHC stock opened at $5.64 on Monday. Bausch Health Cos has a twelve month low of $4.25 and a twelve month high of $8.69. The stock has a market cap of $2.09 billion, a P/E ratio of 13.43 and a beta of 0.37. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 54.68. The company’s 50 day moving average is $6.45 and its two-hundred day moving average is $6.64.

Bausch Health Cos (NYSE:BHC) last released its earnings results on Wednesday, February 18th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.13). The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.71 billion. Bausch Health Cos had a net margin of 1.53% and a return on equity of 875.00%. Research analysts expect that Bausch Health Cos will post 4.41 earnings per share for the current fiscal year.

Institutional Trading of Bausch Health Cos

Several institutional investors have recently modified their holdings of BHC. Paulson & CO. Inc. increased its stake in shares of 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 purchasing an additional 6,352,667 shares during the last quarter. Goldentree Asset Management LP boosted its holdings 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 worth $227,848,000 after purchasing an additional 4,004,889 shares in the last quarter. Norges Bank bought a new stake in Bausch Health Cos in the fourth quarter worth $25,592,000. MUFG Securities EMEA plc acquired a new position in Bausch Health Cos during the second quarter worth $22,644,000. Finally, SG Americas Securities LLC raised its holdings in 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 valued at $40,979,000 after buying an additional 3,282,684 shares in the last quarter. Institutional investors and hedge funds 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.