ValuEngine Upgrades Bausch Health Companies (NYSE:BHC) to “Sell”

Bausch Health Companies (NYSE:BHC) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

Several other equities research analysts have also issued reports on the stock. HC Wainwright increased their target price on shares of Bausch Health Companies from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Co reissued a “sell” rating on shares of Bausch Health Companies in a research note on Tuesday, September 17th. Guggenheim began coverage on shares of Bausch Health Companies in a research note on Thursday, September 12th. They set a “buy” rating and a $30.00 target price on the stock. Piper Jaffray Companies set a $29.00 price target on shares of Bausch Health Companies and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, Barclays set a $28.00 price target on shares of Bausch Health Companies and gave the company a “buy” rating in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. Bausch Health Companies currently has a consensus rating of “Buy” and an average price target of $29.68.

Shares of BHC stock traded down $0.40 during mid-day trading on Wednesday, hitting $19.10. 3,346,273 shares of the stock were exchanged, compared to its average volume of 3,778,120. The firm has a fifty day moving average of $21.77 and a 200 day moving average of $23.30. The company has a quick ratio of 0.92, a current ratio of 1.21 and a debt-to-equity ratio of 8.94. Bausch Health Companies has a 52-week low of $17.20 and a 52-week high of $27.72. The company has a market cap of $6.72 billion, a PE ratio of 4.75 and a beta of 0.85.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Tuesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). Bausch Health Companies had a positive return on equity of 52.12% and a negative net margin of 10.88%. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. Equities analysts predict that Bausch Health Companies will post 4.15 EPS for the current year.

In other Bausch Health Companies news, EVP Christina Ackermann sold 3,968 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $24.81, for a total value of $98,446.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark C. Mckenna sold 10,773 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $21.83, for a total transaction of $235,174.59. Following the completion of the sale, the insider now owns 20,756 shares of the company’s stock, valued at approximately $453,103.48. The disclosure for this sale can be found here. Insiders sold a total of 18,159 shares of company stock worth $410,355 over the last ninety days. 11.87% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Cullinan Associates Inc. boosted its position in Bausch Health Companies by 2.1% in the 3rd quarter. Cullinan Associates Inc. now owns 48,000 shares of the company’s stock valued at $1,049,000 after buying an additional 967 shares during the period. Anson Funds Management LP purchased a new position in Bausch Health Companies in the 2nd quarter valued at approximately $14,667,000. Lehman & Derafelo Financial Resources LLC purchased a new position in Bausch Health Companies in the 2nd quarter valued at approximately $202,000. Amundi Pioneer Asset Management Inc. boosted its position in Bausch Health Companies by 11.8% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 226,394 shares of the company’s stock valued at $5,709,000 after buying an additional 23,968 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in Bausch Health Companies by 0.6% in the 2nd quarter. Pictet Asset Management Ltd. now owns 115,664 shares of the company’s stock valued at $2,924,000 after buying an additional 700 shares during the period. Institutional investors own 56.01% of the company’s stock.

About Bausch Health Companies

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.

See Also: Balanced Fund

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Bausch Health Companies (NYSE:BHC)

Receive News & Ratings for Bausch Health Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bausch Health Companies and related companies with MarketBeat.com's FREE daily email newsletter.