Brokerages Set Bausch Health Companies Inc. (NYSE:BHC) Price Target at $7.75

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

Several research analysts have weighed in on the company. Jefferies Financial Group lowered their price target on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Piper Sandler downgraded shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $9.00 to $3.00 in a research report on Friday, August 2nd. Royal Bank of Canada upped their target price on shares of Bausch Health Companies from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Finally, Scotiabank reduced their price target on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a report on Friday, August 2nd.

Insider Buying and Selling

In other news, EVP Seana Carson sold 13,370 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the transaction, the executive vice president now owns 435,198 shares in the company, valued at approximately $2,702,579.58. This trade represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldentree Asset Management LP boosted its position in shares of Bausch Health Companies by 31.0% in the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock valued at $239,552,000 after acquiring an additional 6,958,717 shares during the period. Bank of Montreal Can raised its stake in Bausch Health Companies by 234.0% in the 3rd quarter. Bank of Montreal Can now owns 3,833,179 shares of the company’s stock worth $31,598,000 after purchasing an additional 2,685,675 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new stake in Bausch Health Companies in the 3rd quarter valued at about $16,850,000. Mackenzie Financial Corp grew its position 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 worth $16,612,000 after purchasing an additional 1,252,834 shares in the last quarter. Finally, Clearline Capital LP bought a new position in shares of Bausch Health Companies during the second quarter worth approximately $6,881,000. 78.65% of the stock is owned by institutional investors and hedge funds.

Bausch Health Companies Trading Up 3.1 %

Shares of BHC opened at $8.37 on Wednesday. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -16.92 and a beta of 0.74. Bausch Health Companies has a 12 month low of $3.96 and a 12 month high of $11.46. The firm has a fifty day simple moving average of $8.40 and a 200 day simple moving average of $7.13.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. As a group, research analysts predict that Bausch Health Companies will post 3.74 earnings per share 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.