Bausch Health Cos Inc. (NYSE:BHC) Receives Average Rating of “Reduce” from Brokerages

Shares of Bausch Health Cos Inc. (NYSE:BHC) have earned an average recommendation of “Reduce” from the seven research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $8.00.

BHC has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Bausch Health Cos to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Royal Bank Of Canada cut their target price on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Wall Street Zen upgraded Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Zacks Research downgraded Bausch Health Cos from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th.

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 BHC. Amundi grew its stake in Bausch Health Cos by 61.7% during the first quarter. Amundi now owns 23,983 shares of the company’s stock worth $130,000 after buying an additional 9,148 shares during the period. 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 raised its stake in shares of Bausch Health Cos by 3.7% in the 1st quarter. Whitebox Advisors LLC now owns 564,672 shares of the company’s stock valued at $3,049,000 after acquiring an additional 20,175 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Bausch Health Cos by 15.5% during 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 in the last quarter. 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.

Bausch Health Cos Trading Down 2.4%

NYSE BHC opened at $6.29 on Thursday. Bausch Health Cos has a 12 month low of $4.33 and a 12 month high of $8.69. The company has a 50-day moving average of $5.06 and a 200-day moving average of $5.44. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.44 and a quick ratio of 1.08. The company has a market cap of $2.35 billion, a P/E ratio of -2.12 and a beta of 0.38.

Bausch Health Cos (NYSE:BHC) last released its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.30. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.59 billion. As a group, equities analysts predict that Bausch Health Cos will post 4.15 earnings per share for the current year.

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.