Bausch Health Companies (NYSE:BHC) Price Target Increased to $9.00 by Analysts at Piper Sandler

Bausch Health Companies (NYSE:BHC) had its price objective hoisted by Piper Sandler from $7.00 to $9.00 in a report published on Monday morning, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

BHC has been the subject of a number of other reports. StockNews.com raised shares of Bausch Health Companies from a hold rating to a buy rating in a research note on Wednesday, February 7th. Royal Bank of Canada dropped their price target on Bausch Health Companies from $12.00 to $11.00 and set a sector perform rating for the company in a research report on Tuesday, April 23rd. Finally, Jefferies Financial Group reduced their price objective on Bausch Health Companies from $16.00 to $14.00 and set a buy rating on the stock in a research report on Tuesday, February 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $11.33.

Bausch Health Companies Stock Performance

BHC opened at $8.89 on Monday. The company has a market cap of $3.25 billion, a price-to-earnings ratio of -5.49 and a beta of 0.85. Bausch Health Companies has a one year low of $5.57 and a one year high of $11.46. The business’s fifty day moving average is $9.30 and its two-hundred day moving average is $8.18.

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

Institutional Investors Weigh In On Bausch Health Companies

Hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its position in Bausch Health Companies by 16.3% during the third quarter. Commonwealth Equity Services LLC now owns 45,699 shares of the company’s stock worth $376,000 after buying an additional 6,399 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Bausch Health Companies by 15.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,783 shares of the company’s stock worth $470,000 after acquiring an additional 7,465 shares during the period. Mackenzie Financial Corp boosted its position in shares of Bausch Health Companies by 8.1% in the third quarter. Mackenzie Financial Corp now owns 1,231,232 shares of the company’s stock worth $9,869,000 after acquiring an additional 92,515 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Bausch Health Companies in the third quarter valued at approximately $169,000. Finally, TD Asset Management Inc grew its holdings in Bausch Health Companies by 17.5% in the third quarter. TD Asset Management Inc now owns 1,137,247 shares of the company’s stock valued at $9,421,000 after purchasing an additional 169,531 shares during the period. Institutional investors and hedge funds own 78.65% of the company’s stock.

About Bausch Health Companies

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.