Bausch Health Companies (BHC) Downgraded to “Sell” at ValuEngine

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Bausch Health Companies (NYSE:BHC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Monday, ValuEngine reports.

BHC has been the subject of a number of other research reports. Zacks Investment Research raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, January 29th. Wells Fargo & Co boosted their price objective on shares of Bausch Health Companies from $9.00 to $25.19 and gave the company an “underperform” rating in a report on Tuesday, February 19th. Bank of America reissued an “underperform” rating and issued a $18.00 price objective on shares of Bausch Health Companies in a report on Wednesday, March 20th. SunTrust Banks started coverage on shares of Bausch Health Companies in a report on Tuesday, March 19th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Piper Jaffray Companies set a $28.00 price objective on shares of Bausch Health Companies and gave the company a “buy” rating in a report on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $28.05.

Shares of BHC stock traded down $0.83 during midday trading on Monday, hitting $24.23. 3,139,964 shares of the company were exchanged, compared to its average volume of 4,249,888. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 6.03, a PEG ratio of 0.58 and a beta of 0.55. The company has a debt-to-equity ratio of 8.61, a quick ratio of 0.83 and a current ratio of 1.08. Bausch Health Companies has a 52 week low of $17.20 and a 52 week high of $28.45.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Monday, May 6th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.89 by $0.14. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. Bausch Health Companies had a negative net margin of 19.27% and a positive return on equity of 47.01%. Bausch Health Companies’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. Sell-side analysts forecast that Bausch Health Companies will post 4.06 EPS for the current year.

In other news, CEO Joseph C. Papa bought 30,000 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was bought at an average cost of $23.67 per share, for a total transaction of $710,100.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 11.87% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BHC. FIL Ltd increased its position in Bausch Health Companies by 69.6% during the 1st quarter. FIL Ltd now owns 10,545,300 shares of the company’s stock worth $260,170,000 after purchasing an additional 4,327,851 shares in the last quarter. Norges Bank acquired a new position in Bausch Health Companies during the 4th quarter worth approximately $59,054,000. Orbimed Advisors LLC increased its position in Bausch Health Companies by 89.1% during the 4th quarter. Orbimed Advisors LLC now owns 3,600,300 shares of the company’s stock worth $66,498,000 after purchasing an additional 1,696,400 shares in the last quarter. Ardevora Asset Management LLP increased its position in Bausch Health Companies by 1,894.8% during the 4th quarter. Ardevora Asset Management LLP now owns 1,638,120 shares of the company’s stock worth $30,256,000 after purchasing an additional 1,556,002 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Bausch Health Companies by 28.2% during the 1st quarter. Bank of Montreal Can now owns 3,702,077 shares of the company’s stock worth $91,441,000 after purchasing an additional 815,311 shares in the last quarter. Institutional investors and hedge funds own 54.70% of the company’s stock.

About Bausch Health Companies

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.

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Analyst Recommendations for Bausch Health Companies (NYSE:BHC)

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