Royal Bank of Canada Reaffirms Sector Perform Rating for Bausch Health Companies (NYSE:BHC)

Royal Bank of Canada reissued their sector perform rating on shares of Bausch Health Companies (NYSE:BHC) in a research note published on Friday, Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

A number of other equities research analysts also recently commented on the stock. StockNews.com upgraded shares of Bausch Health Companies from a hold rating to a buy rating in a research report on Wednesday, February 7th. Jefferies Financial Group decreased their price target on Bausch Health Companies from $16.00 to $14.00 and set a buy rating on the stock in a research note on Tuesday, February 20th.

Bausch Health Companies Trading Down 1.4 %

Shares of BHC stock opened at $8.64 on Friday. The company has a market capitalization of $3.16 billion, a P/E ratio of -5.33 and a beta of 0.85. The business’s 50 day moving average is $9.25 and its two-hundred day moving average is $8.14. Bausch Health Companies has a twelve month low of $5.57 and a twelve month high of $11.46.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.29 billion. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. Bausch Health Companies’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.02 EPS. As a group, equities analysts predict that Bausch Health Companies will post 3.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch Health Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aviva PLC increased its stake in Bausch Health Companies by 2.2% in the 1st quarter. Aviva PLC now owns 45,626 shares of the company’s stock valued at $1,044,000 after purchasing an additional 971 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Bausch Health Companies by 0.5% in the second quarter. CIBC Asset Management Inc now owns 267,868 shares of the company’s stock valued at $2,145,000 after purchasing an additional 1,428 shares during the last quarter. Legal & General Group Plc increased its position in shares of Bausch Health Companies by 0.5% in the third quarter. Legal & General Group Plc now owns 296,379 shares of the company’s stock valued at $2,455,000 after buying an additional 1,565 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Bausch Health Companies by 0.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 211,993 shares of the company’s stock worth $1,696,000 after buying an additional 1,945 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake in shares of Bausch Health Companies by 2.2% during the 1st quarter. Gabelli Funds LLC now owns 93,000 shares of the company’s stock worth $753,000 after buying an additional 2,000 shares during the last quarter. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Companies Company Profile

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.