Jefferies Financial Group Upgrades Bausch Health Cos (NYSE:BHC) to Hold

Bausch Health Cos (NYSE:BHC) was upgraded by equities research analysts at Jefferies Financial Group to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. Weiss Ratings downgraded shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bausch Health Cos presently has a consensus rating of “Reduce” and a consensus price target of $8.00.

Bausch Health Cos Stock Up 1.0%

Shares of NYSE:BHC opened at $4.57 on Wednesday. The stock’s 50-day moving average price is $5.04 and its two-hundred day moving average price is $5.58. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68. Bausch Health Cos has a 12-month low of $4.33 and a 12-month high of $8.69. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -1.41 and a beta of 0.42.

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

Insider Buying and Selling at Bausch Health Cos

In other news, Director Frank D. Lee sold 24,456 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total transaction of $132,796.08. Following the completion of the sale, the director owned 49,339 shares in the company, valued at approximately $267,910.77. The trade was a 33.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi lifted its position in Bausch Health Cos by 61.7% during the first quarter. Amundi now owns 23,983 shares of the company’s stock valued at $130,000 after buying an additional 9,148 shares in the last quarter. Royal Bank of Canada increased its position in shares of Bausch Health Cos by 24.9% in the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock worth $61,362,000 after acquiring an additional 2,262,894 shares in the last quarter. Whitebox Advisors LLC increased its position in shares of Bausch Health Cos by 3.7% in the first quarter. Whitebox Advisors LLC now owns 564,672 shares of the company’s stock worth $3,049,000 after acquiring an additional 20,175 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Bausch Health Cos by 15.5% in the 1st quarter. Lazard Asset Management LLC now owns 53,139 shares of the company’s stock valued at $287,000 after acquiring an additional 7,114 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Bausch Health Cos by 10.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,575,772 shares of the company’s stock valued at $8,509,000 after acquiring an additional 143,581 shares in the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.

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.