Royal Bank of Canada Cuts Bausch Health Companies (NYSE:BHC) Price Target to $11.00

Bausch Health Companies (NYSE:BHC) had its price target decreased by Royal Bank of Canada from $12.00 to $11.00 in a research report sent to investors on Tuesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other analysts have also issued reports about the company. StockNews.com upgraded Bausch Health Companies from a hold rating to a buy rating in a research note on Wednesday, February 7th. Jefferies Financial Group lowered their price objective on Bausch Health Companies from $16.00 to $14.00 and set a buy rating for the company in a research report on Tuesday, February 20th.

Bausch Health Companies Stock Performance

Shares of NYSE:BHC opened at $8.63 on Tuesday. Bausch Health Companies has a twelve month low of $5.57 and a twelve month high of $11.46. The firm has a market cap of $3.15 billion, a PE ratio of -5.32 and a beta of 0.85. The business has a fifty day moving average of $9.30 and a 200-day moving average of $8.16.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. Bausch Health Companies had a positive return on equity of 5,147.48% and a negative net margin of 6.76%. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the company posted $1.02 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Bausch Health Companies will post 3.95 EPS for the current fiscal year.

Institutional Trading of Bausch Health Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. acquired a new stake in Bausch Health Companies in the first quarter worth about $32,000. Principal Securities Inc. acquired a new stake in Bausch Health Companies in the fourth quarter worth about $31,000. Tower Research Capital LLC TRC increased its position in Bausch Health Companies by 283.1% in the fourth 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. Thompson Investment Management Inc. boosted its holdings in Bausch Health Companies by 2.6% during the fourth quarter. Thompson Investment Management Inc. now owns 218,860 shares of the company’s stock worth $1,755,000 after buying an additional 5,505 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Bausch Health Companies by 16.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 45,699 shares of the company’s stock worth $376,000 after buying an additional 6,399 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.

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.