Raymond James Initiates Coverage on Bausch Health Companies (NYSE:BHC)

Investment analysts at Raymond James assumed coverage on shares of Bausch Health Companies (NYSE:BHC) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $8.00 price target on the stock. Raymond James’ price target indicates a potential upside of 5.96% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Royal Bank of Canada decreased their price target on Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating for the company in a report on Tuesday, April 23rd. Finally, Piper Sandler lifted their price objective on shares of Bausch Health Companies from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bausch Health Companies currently has an average rating of “Hold” and a consensus target price of $10.50.

Bausch Health Companies Stock Performance

Shares of BHC opened at $7.55 on Wednesday. The company has a market capitalization of $2.73 billion, a PE ratio of -6.09 and a beta of 0.77. Bausch Health Companies has a fifty-two week low of $6.05 and a fifty-two week high of $11.46. The stock has a fifty day moving average of $6.75 and a two-hundred day moving average of $8.07.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.16). The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.18 billion. Bausch Health Companies had a negative net margin of 5.07% and a negative return on equity of 2,370.91%. As a group, equities research analysts forecast that Bausch Health Companies will post 3.63 earnings per share for the current fiscal year.

Institutional Trading of Bausch Health Companies

Several hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. bought a new position in shares of Bausch Health Companies during the 4th quarter valued at about $31,000. Salem Investment Counselors Inc. acquired a new stake in Bausch Health Companies during the first quarter valued at approximately $32,000. Tower Research Capital LLC TRC boosted its holdings in Bausch Health Companies by 283.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after buying an additional 5,112 shares in the last quarter. Bfsg LLC acquired a new position in Bausch Health Companies in the fourth quarter worth approximately $63,000. Finally, Citigroup Inc. increased its holdings in shares of Bausch Health Companies by 73.3% in the third quarter. Citigroup Inc. now owns 20,820 shares of the company’s stock valued at $172,000 after buying an additional 8,804 shares in the last quarter. Institutional investors own 78.65% of the company’s stock.

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.