Bausch Health Cos Inc. (NYSE:BHC) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Bausch Health Cos Inc. (NYSE:BHC) have been assigned an average rating of “Reduce” from the five brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.00.

Several equities analysts recently issued reports on BHC shares. Royal Bank Of Canada dropped their target price on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Weiss Ratings downgraded Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th.

Bausch Health Cos Trading Down 1.7%

Shares of BHC traded down $0.09 during mid-day trading on Friday, reaching $4.78. 1,367,200 shares of the company were exchanged, compared to its average volume of 2,824,838. The business has a 50 day simple moving average of $5.17 and a two-hundred day simple moving average of $5.72. The company has a debt-to-equity ratio of 54.68, a quick ratio of 0.97 and a current ratio of 1.32. The stock has a market capitalization of $1.79 billion, a PE ratio of -1.47 and a beta of 0.42. Bausch Health Cos has a 52 week low of $4.57 and a 52 week high of $8.69.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%.The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, analysts predict that Bausch Health Cos will post 4.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of Bausch Health Cos stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the sale, the director directly owned 49,339 shares in the company, valued at approximately $267,910.77. The trade was a 33.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldentree Asset Management LP boosted its holdings in Bausch Health Cos by 1.7% during the third quarter. Goldentree Asset Management LP now owns 34,833,431 shares of the company’s stock worth $224,409,000 after purchasing an additional 578,542 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Bausch Health Cos in the fourth quarter worth $3,651,000. Cinctive Capital Management LP bought a new position in Bausch Health Cos in the 3rd quarter valued at $697,000. Private Management Group Inc. grew its stake in Bausch Health Cos by 13.6% in the 3rd quarter. Private Management Group Inc. now owns 1,621,725 shares of the company’s stock valued at $10,460,000 after purchasing an additional 194,158 shares during the period. Finally, Norges Bank purchased a new stake in shares of Bausch Health Cos during the 4th quarter valued at $25,592,000. 78.65% of the stock is owned by institutional investors.

About Bausch Health Cos

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.