Bausch Health Companies (NYSE:BHC) Downgraded by StockNews.com

Bausch Health Companies (NYSE:BHC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

BHC has been the subject of a number of other research reports. Scotiabank dropped their price target on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada reduced their price target on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Truist Financial lowered their price objective on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Piper Sandler downgraded Bausch Health Companies from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $9.00 to $3.00 in a report on Friday, August 2nd. Finally, Raymond James assumed coverage on Bausch Health Companies in a research report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.33.

Bausch Health Companies Price Performance

BHC traded up $0.18 during trading on Tuesday, hitting $7.18. 3,128,668 shares of the stock traded hands, compared to its average volume of 3,108,010. The firm has a market capitalization of $2.59 billion, a P/E ratio of -5.79 and a beta of 0.75. Bausch Health Companies has a 12-month low of $3.96 and a 12-month high of $11.46. The firm has a 50-day moving average of $6.24 and a 200 day moving average of $7.36.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. Bausch Health Companies had a negative net margin of 5.12% and a negative return on equity of 742.06%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, equities analysts predict that Bausch Health Companies will post 3.61 EPS for the current fiscal year.

Insider Activity

In related news, EVP Seana Carson sold 13,370 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the sale, the executive vice president now directly owns 435,198 shares of the company’s stock, valued at approximately $2,702,579.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.12% of the company’s stock.

Hedge Funds Weigh In On Bausch Health Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. purchased a new stake in shares of Bausch Health Companies during the 1st quarter valued at about $32,000. CANADA LIFE ASSURANCE Co grew its position in shares of Bausch Health Companies by 4.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock valued at $933,000 after acquiring an additional 3,519 shares during the period. Bfsg LLC increased its stake in shares of Bausch Health Companies by 46.7% in the 2nd quarter. Bfsg LLC now owns 11,450 shares of the company’s stock worth $80,000 after purchasing an additional 3,643 shares in the last quarter. Principal Securities Inc. bought a new stake in Bausch Health Companies during the fourth quarter valued at about $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Bausch Health Companies by 6.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,706 shares of the company’s stock worth $423,000 after buying an additional 3,923 shares in the last quarter. 78.65% of the stock is owned by institutional investors.

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.