Bausch Health Companies (NYSE:BHC) Shares Gap Up to $6.03

Shares of Bausch Health Companies Inc. (NYSE:BHC) gapped up before the market opened on Thursday . The stock had previously closed at $6.03, but opened at $6.45. Bausch Health Companies shares last traded at $6.23, with a volume of 364,380 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Royal Bank of Canada dropped their price objective on Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 23rd. Truist Financial decreased their target price on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Raymond James began coverage on Bausch Health Companies in a report on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 target price for the company. Finally, Piper Sandler lifted their target price on Bausch Health Companies from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.80.

Bausch Health Companies Trading Up 1.2 %

The stock has a 50-day moving average price of $6.70 and a 200 day moving average price of $7.97.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Thursday, May 2nd. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.16). Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.18 billion. Research analysts forecast that Bausch Health Companies Inc. will post 3.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch Health Companies

Institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. acquired a new position in Bausch Health Companies in the 4th quarter valued at about $31,000. Salem Investment Counselors Inc. acquired a new position in Bausch Health Companies during the 1st quarter worth approximately $32,000. Tower Research Capital LLC TRC increased its position in Bausch Health Companies by 283.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock worth $55,000 after purchasing an additional 5,112 shares during the period. Bfsg LLC acquired a new position in Bausch Health Companies during the 4th quarter worth approximately $63,000. Finally, Tobam boosted its stake in shares of Bausch Health Companies by 48.9% during the 2nd quarter. Tobam now owns 26,148 shares of the company’s stock worth $182,000 after acquiring an additional 8,586 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.