Bausch Health Companies (NYSE:BHC) Downgraded to “Hold” at StockNews.com

Bausch Health Companies (NYSE:BHC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other analysts have also weighed in on BHC. Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a research report on Tuesday. Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. Raymond James initiated coverage on Bausch Health Companies in a research report on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 price objective on the stock. Scotiabank lowered their target price on shares of 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. Finally, 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 note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Bausch Health Companies currently has a consensus rating of “Hold” and a consensus target price of $7.33.

Bausch Health Companies Stock Performance

BHC stock traded down $0.10 during midday trading on Thursday, reaching $8.37. 2,122,665 shares of the company traded hands, compared to its average volume of 2,995,874. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -6.75 and a beta of 0.77. Bausch Health Companies has a 52-week low of $3.96 and a 52-week high of $11.46. The business has a 50 day moving average of $6.96 and a 200-day moving average of $7.16.

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

Insiders Place Their Bets

In other news, EVP Seana Carson sold 13,370 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the transaction, the executive vice president now directly owns 435,198 shares in the company, valued at approximately $2,702,579.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bausch Health Companies

A number of hedge funds have recently made changes to their positions in the stock. Salem Investment Counselors Inc. purchased a new position in Bausch Health Companies in the first quarter valued at about $32,000. Headlands Technologies LLC bought a new stake in shares of Bausch Health Companies in the 2nd quarter valued at about $35,000. MQS Management LLC purchased a new position in shares of Bausch Health Companies in the 2nd quarter worth approximately $71,000. Certuity LLC purchased a new stake in Bausch Health Companies during the second quarter valued at approximately $75,000. Finally, Bfsg LLC boosted its stake in Bausch Health Companies by 46.7% in the second quarter. Bfsg LLC now owns 11,450 shares of the company’s stock valued at $80,000 after acquiring an additional 3,643 shares in the last quarter. 78.65% of the stock is currently owned by hedge funds and other 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.