Bausch Health Companies (NYSE:BHC) Coverage Initiated at Raymond James

Raymond James started coverage on shares of Bausch Health Companies (NYSE:BHC) in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage issued a market perform rating and a $8.00 price objective on the stock.

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

Bausch Health Companies Stock Down 1.7 %

Bausch Health Companies stock opened at $7.42 on Wednesday. Bausch Health Companies has a 52-week low of $6.05 and a 52-week high of $11.46. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -5.98 and a beta of 0.77. The company has a fifty day simple moving average of $6.74 and a 200-day simple moving average of $8.07.

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

Institutional Trading of Bausch Health Companies

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Bausch Health Companies by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,713,993 shares of the company’s stock valued at $124,285,000 after acquiring an additional 114,862 shares in the last quarter. Hudson Bay Capital Management LP raised its holdings in Bausch Health Companies by 35.3% in the third quarter. Hudson Bay Capital Management LP now owns 11,500,000 shares of the company’s stock valued at $94,530,000 after acquiring an additional 3,000,000 shares in the last quarter. Norges Bank acquired a new stake in Bausch Health Companies in the fourth quarter valued at approximately $31,121,000. Natixis raised its holdings in Bausch Health Companies by 14.3% in the first quarter. Natixis now owns 3,652,200 shares of the company’s stock valued at $38,707,000 after acquiring an additional 456,000 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its holdings in Bausch Health Companies by 1,050.8% in the first quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock valued at $36,135,000 after acquiring an additional 3,113,123 shares in the last quarter. Institutional investors and hedge funds 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.