Bausch Health Companies Inc. (NYSE:BHC) Receives $7.75 Average PT from Analysts

Bausch Health Companies Inc. (NYSE:BHC) has received an average recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $7.75.

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th.

Institutional Trading of Bausch Health Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of BHC. Mackenzie Financial Corp grew its stake in shares of Bausch Health Companies by 111.0% during the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock valued at $16,612,000 after acquiring an additional 1,252,834 shares during the period. LMR Partners LLP bought a new position in shares of Bausch Health Companies in the third quarter worth approximately $3,264,000. Clearline Capital LP bought a new position in shares of Bausch Health Companies in the second quarter worth approximately $6,881,000. Intact Investment Management Inc. purchased a new stake in shares of Bausch Health Companies in the third quarter worth $1,543,000. Finally, XTX Topco Ltd bought a new stake in shares of Bausch Health Companies during the 3rd quarter valued at $938,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Companies Stock Performance

BHC opened at $7.65 on Friday. The company’s 50-day simple moving average is $8.25 and its two-hundred day simple moving average is $7.32. The stock has a market capitalization of $2.77 billion, a P/E ratio of -15.94 and a beta of 0.69. Bausch Health Companies has a 52-week low of $3.96 and a 52-week high of $11.46.

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, beating analysts’ consensus estimates of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Research analysts forecast that Bausch Health Companies will post 3.74 EPS for the current fiscal year.

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.