Jefferies Financial Group Upgrades Bausch Health Cos (NYSE:BHC) to “Hold”

Bausch Health Cos (NYSE:BHC) was upgraded by Jefferies Financial Group to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings lowered shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Royal Bank Of Canada cut their price objective on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $8.00.

Bausch Health Cos Stock Down 2.3%

NYSE BHC opened at $4.46 on Wednesday. The business has a fifty day moving average price of $5.02 and a 200 day moving average price of $5.56. The company has a debt-to-equity ratio of 54.68, a quick ratio of 0.97 and a current ratio of 1.32. The company has a market cap of $1.67 billion, a P/E ratio of -1.38 and a beta of 0.42. Bausch Health Cos has a one year low of $4.33 and a one year high of $8.69.

Bausch Health Cos (NYSE:BHC) last announced its earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%.The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.37 billion. Research analysts anticipate that Bausch Health Cos will post 4.05 EPS for the current fiscal year.

Insider Activity

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the sale, the director directly owned 49,339 shares of the company’s stock, valued at $267,910.77. This trade represents a 33.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bausch Health Cos

A number of hedge funds have recently modified their holdings of BHC. Tidal Investments LLC grew its holdings in Bausch Health Cos by 2.6% during the 2nd quarter. Tidal Investments LLC now owns 50,131 shares of the company’s stock worth $334,000 after acquiring an additional 1,276 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Bausch Health Cos by 14.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,067 shares of the company’s stock valued at $98,000 after purchasing an additional 1,812 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Bausch Health Cos by 4.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 54,169 shares of the company’s stock valued at $292,000 after purchasing an additional 2,114 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Bausch Health Cos by 2.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock worth $690,000 after purchasing an additional 2,552 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Bausch Health Cos by 65.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock worth $51,000 after purchasing an additional 3,106 shares during the last quarter. Hedge funds and other 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.