Bausch Health Cos (NYSE:BHC) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Bausch Health Cos (NYSE:BHC) from a strong-buy rating to a hold rating in a research note published on Thursday,Zacks reports.

A number of other research firms have also issued reports on BHC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bausch Health Cos in a report on Thursday, October 29th. Royal Bank Of Canada upped their price target on Bausch Health Cos from $9.00 to $10.00 and gave the stock a “sector perform” rating in a report on Thursday, October 29th. Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Jefferies Financial Group raised their price objective on shares of Bausch Health Cos from $6.50 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, October 29th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Bausch Health Cos currently has a consensus rating of “Reduce” and an average target price of $8.25.

Bausch Health Cos Trading Up 3.0%

Bausch Health Cos stock traded up $0.23 on Thursday, reaching $8.20. 3,067,504 shares of the stock were exchanged, compared to its average volume of 4,319,254. The stock has a market cap of $3.07 billion, a PE ratio of -3.58 and a beta of 0.30. Bausch Health Cos has a twelve month low of $4.33 and a twelve month high of $9.04. The firm has a fifty day moving average price of $6.40 and a two-hundred day moving average price of $5.74.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.52. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.72 billion. Bausch Health Cos had a negative return on equity of 401.73% and a negative net margin of 7.57%. Equities analysts anticipate that Bausch Health Cos will post 4.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Aimee Lenar sold 36,827 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total transaction of $258,893.81. Following the transaction, the insider directly owned 334,853 shares in the company, valued at $2,354,016.59. The trade was a 9.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bausch Health Cos

Large investors have recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new stake in shares of Bausch Health Cos during the 3rd quarter worth approximately $28,000. Tacita Capital Inc bought a new position in Bausch Health Cos in the second quarter worth $29,000. Ascent Group LLC bought a new stake in Bausch Health Cos in the 3rd quarter valued at $67,000. Commonwealth Equity Services LLC raised its stake in shares of Bausch Health Cos by 22.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,992 shares of the company’s stock valued at $76,000 after buying an additional 2,400 shares in the last quarter. Finally, Amundi raised its stake in shares of Bausch Health Cos by 61.7% in the 1st quarter. Amundi now owns 23,983 shares of the company’s stock valued at $130,000 after buying an additional 9,148 shares in the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Cos Company Profile

Bausch Health Companies Inc (NYSE:BHC) is a multinational specialty pharmaceutical company focused on developing, manufacturing and commercializing branded, generic and over-the-counter medicines. Its portfolio serves several therapeutic areas, including gastroenterology, dermatology, neurology, ophthalmology, hospital products and other specialty-care markets.

The company markets products through businesses such as Salix Pharmaceuticals, Ortho Dermatologics, Solta Medical and its international pharmaceutical operations.