Royal Bank of Canada Cuts Bausch Health Companies (NYSE:BHC) Price Target to $10.00

Bausch Health Companies (NYSE:BHC) had its price objective dropped by stock analysts at Royal Bank of Canada from $11.00 to $10.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 35.04% from the company’s previous close.

BHC has been the topic of a number of other reports. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.58.

Bausch Health Companies Trading Down 0.9 %

Shares of BHC stock traded down $0.07 during trading hours on Thursday, reaching $7.41. The company’s stock had a trading volume of 103,836 shares, compared to its average volume of 2,968,469. The stock has a market capitalization of $2.68 billion, a P/E ratio of -15.43 and a beta of 0.69. Bausch Health Companies has a one year low of $3.96 and a one year high of $11.46. The firm’s fifty day simple moving average is $7.79 and its 200 day simple moving average is $7.46.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.42 billion. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. As a group, equities research analysts forecast that Bausch Health Companies will post 3.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Tobam grew its holdings in Bausch Health Companies by 10.4% during the fourth quarter. Tobam now owns 15,034 shares of the company’s stock valued at $121,000 after purchasing an additional 1,422 shares during the period. DGS Capital Management LLC purchased a new stake in shares of Bausch Health Companies in the fourth quarter worth about $143,000. Merit Financial Group LLC purchased a new stake in shares of Bausch Health Companies in the fourth quarter worth about $228,000. Sanders Morris Harris LLC raised its position in Bausch Health Companies by 16.0% during the fourth quarter. Sanders Morris Harris LLC now owns 28,975 shares of the company’s stock valued at $234,000 after purchasing an additional 4,000 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its stake in shares of Bausch Health Companies by 13.0% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 32,384 shares of the company’s stock valued at $264,000 after purchasing an additional 3,734 shares during the last quarter. Hedge funds and other institutional investors own 78.65% of the company’s stock.

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.