Bausch Health Companies (NYSE:BHC) PT Lowered to $23.00

Bausch Health Companies (NYSE:BHC) had its price target dropped by equities researchers at Royal Bank of Canada from $24.00 to $23.00 in a report released on Friday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 25.89% from the stock’s previous close.

Several other equities research analysts have also weighed in on BHC. Morgan Stanley lowered Bausch Health Companies from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 2nd. HC Wainwright lifted their target price on shares of Bausch Health Companies from $50.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Cfra dropped their price target on shares of Bausch Health Companies from $28.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Citigroup started coverage on shares of Bausch Health Companies in a report on Friday, April 24th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, TheStreet cut shares of Bausch Health Companies from a “c-” rating to a “d+” rating in a report on Friday, April 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $31.00.

BHC stock opened at $18.27 on Friday. The stock has a market cap of $6.48 billion, a P/E ratio of -3.41, a P/E/G ratio of 0.45 and a beta of 1.26. The stock’s fifty day simple moving average is $18.18 and its two-hundred day simple moving average is $20.14. Bausch Health Companies has a 1-year low of $11.15 and a 1-year high of $31.97.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Thursday, May 7th. The company reported $0.88 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.88. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Bausch Health Companies had a positive return on equity of 84.58% and a negative net margin of 21.96%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. As a group, equities research analysts forecast that Bausch Health Companies will post 3.76 earnings per share for the current year.

In other news, Director Holdings L.P. Valueact bought 948,353 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $19.24 per share, for a total transaction of $18,246,311.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Paulson purchased 2,041,036 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $17.35 per share, with a total value of $35,411,974.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,618,309 shares of company stock valued at $79,509,247 over the last 90 days. 12.14% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in Bausch Health Companies by 214.7% in the 1st quarter. Morgan Stanley now owns 13,994,220 shares of the company’s stock worth $216,910,000 after buying an additional 9,547,589 shares during the period. Wellington Management Group LLP boosted its holdings in Bausch Health Companies by 228.9% in the first quarter. Wellington Management Group LLP now owns 4,340,376 shares of the company’s stock valued at $67,275,000 after acquiring an additional 3,020,889 shares in the last quarter. Nomura Holdings Inc. increased its position in Bausch Health Companies by 26.6% during the 1st quarter. Nomura Holdings Inc. now owns 3,504,245 shares of the company’s stock valued at $54,344,000 after purchasing an additional 735,500 shares during the period. Norges Bank bought a new position in Bausch Health Companies in the 4th quarter worth $126,441,000. Finally, Ardevora Asset Management LLP raised its stake in Bausch Health Companies by 15.5% in the second quarter. Ardevora Asset Management LLP now owns 2,480,476 shares of the company’s stock worth $45,368,000 after buying an additional 332,014 shares in the last quarter. Institutional investors own 68.46% of the company’s stock.

Bausch Health Companies Company Profile

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.

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Analyst Recommendations for Bausch Health Companies (NYSE:BHC)

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