Bausch Health Cos (NYSE:BHC) Upgraded to Strong-Buy at Zacks Research

Bausch Health Cos (NYSE:BHC) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other equities analysts have also issued research reports about the stock. Weiss Ratings raised shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Jefferies Financial Group raised shares of Bausch Health Cos to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bausch Health Cos presently has a consensus rating of “Hold” and an average price target of $8.00.

Bausch Health Cos Stock Performance

Bausch Health Cos stock opened at $5.80 on Monday. Bausch Health Cos has a fifty-two week low of $4.33 and a fifty-two week high of $8.00. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -1.96 and a beta of 0.37. The stock has a fifty day moving average of $5.95 and a two-hundred day moving average of $5.50. The company has a debt-to-equity ratio of 54.68, a quick ratio of 1.08 and a current ratio of 1.44.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.30. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%.The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.59 billion. On average, analysts anticipate that Bausch Health Cos will post 4.35 EPS for the current fiscal year.

Insider Buying and Selling at Bausch Health Cos

In related news, insider Aimee Lenar sold 36,827 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total transaction of $258,893.81. Following the completion of the sale, the insider owned 334,853 shares of the company’s stock, valued at approximately $2,354,016.59. This represents a 9.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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

Several hedge funds have recently added to or reduced their stakes in the stock. Paulson & CO. Inc. purchased a new stake in shares of Bausch Health Cos during the 2nd quarter valued at about $361,151,000. Royal Bank of Canada raised its stake in shares of Bausch Health Cos by 24.9% during the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock valued at $61,362,000 after purchasing an additional 2,262,894 shares during the period. MFN Partners Management LP acquired a new position in shares of Bausch Health Cos during the second quarter worth $29,580,000. Norges Bank purchased a new position in shares of Bausch Health Cos in the fourth quarter valued at $25,592,000. Finally, Dimensional Fund Advisors LP increased its stake in Bausch Health Cos by 10.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,604,818 shares of the company’s stock worth $19,456,000 after buying an additional 350,823 shares during the period. 78.65% of the stock is owned by hedge funds and other institutional investors.

About Bausch Health Cos

Bausch Health Companies Inc is a multinational specialty pharmaceutical company headquartered in Laval, Quebec. The company develops, manufactures and markets prescription medicines, over-the-counter products and medical devices, with a focus on gastroenterology, neurology, dermatology and other specialty therapeutic areas.

Its portfolio includes gastrointestinal treatments such as Xifaxan, Trulance and Relistor, as well as products for conditions affecting the central nervous system and skin.