Bausch Health Companies (NYSE:BHC) Price Target Cut to $11.00

Bausch Health Companies (NYSE:BHC) had its price objective reduced by analysts at Royal Bank of Canada from $12.00 to $11.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 28.43% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group decreased their price objective on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th.

Bausch Health Companies Price Performance

Shares of Bausch Health Companies stock opened at $8.57 on Tuesday. Bausch Health Companies has a 1-year low of $5.57 and a 1-year high of $11.46. The business’s fifty day moving average price is $9.29 and its two-hundred day moving average price is $8.16. The company has a market capitalization of $3.13 billion, a P/E ratio of -5.29 and a beta of 0.85.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 earnings per share. On average, research analysts expect that Bausch Health Companies will post 3.95 earnings per share for the current fiscal year.

Institutional Trading of Bausch Health Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG grew its position in Bausch Health Companies by 127.9% in the third quarter. UBS Group AG now owns 394,232 shares of the company’s stock worth $3,241,000 after buying an additional 221,213 shares during the last quarter. Readystate Asset Management LP acquired a new position in shares of Bausch Health Companies in the 4th quarter worth $2,933,000. Deutsche Bank AG grew its holdings in shares of Bausch Health Companies by 1,397.8% in the 3rd quarter. Deutsche Bank AG now owns 362,850 shares of the company’s stock worth $2,983,000 after acquiring an additional 338,624 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Bausch Health Companies by 1.6% during the third quarter. Vanguard Group Inc. now owns 11,487,768 shares of the company’s stock worth $94,429,000 after purchasing an additional 175,489 shares during the period. Finally, Segantii Capital Management Ltd lifted its holdings in shares of Bausch Health Companies by 20.0% during the third quarter. Segantii Capital Management Ltd now owns 3,000,000 shares of the company’s stock valued at $24,660,000 after purchasing an additional 500,000 shares during the last quarter. 78.65% of the stock is currently owned by institutional investors.

Bausch Health Companies Company Profile

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.