Royal Bank of Canada Cuts Bausch Health Companies (NYSE:BHC) Price Target to $11.00

Bausch Health Companies (NYSE:BHC) had its price objective trimmed by Royal Bank of Canada from $12.00 to $11.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

BHC has been the topic of a number of other reports. Jefferies Financial Group lowered their price target on shares of Bausch Health Companies from $16.00 to $14.00 and set a buy rating on the stock in a report on Tuesday, February 20th. StockNews.com raised shares of Bausch Health Companies from a hold rating to a buy rating in a report on Wednesday, February 7th.

Bausch Health Companies Stock Performance

Shares of NYSE BHC opened at $8.72 on Tuesday. The company’s fifty day moving average price is $9.30 and its 200 day moving average price is $8.17. Bausch Health Companies has a 1 year low of $5.57 and a 1 year high of $11.46. The company has a market capitalization of $3.18 billion, a PE ratio of -5.38 and a beta of 0.85.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts expect that Bausch Health Companies will post 3.95 EPS for the current year.

Hedge Funds Weigh In On Bausch Health Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. purchased a new position in Bausch Health Companies during the first quarter valued at $32,000. Principal Securities Inc. purchased a new position in Bausch Health Companies during the fourth quarter valued at $31,000. Tower Research Capital LLC TRC lifted its holdings in Bausch Health Companies by 283.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,918 shares of the company’s stock valued at $55,000 after purchasing an additional 5,112 shares in the last quarter. Bfsg LLC purchased a new position in Bausch Health Companies during the fourth quarter valued at $63,000. Finally, Ausdal Financial Partners Inc. purchased a new position in Bausch Health Companies during the third quarter valued at $86,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

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.