Brokerages Set Bausch Health Companies Inc. (NYSE:BHC) Target Price at $7.33

Bausch Health Companies Inc. (NYSE:BHC) has received an average rating of “Hold” from the six research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.33.

Several brokerages have recently issued reports on BHC. Scotiabank lowered their target price on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Truist Financial decreased their price objective on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Jefferies Financial Group cut their target price on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $9.00 to $3.00 in a research note on Friday, August 2nd.

Bausch Health Companies Trading Up 1.7 %

Shares of BHC stock opened at $5.87 on Monday. The company has a market cap of $2.12 billion, a P/E ratio of -4.73 and a beta of 0.77. The firm has a fifty day moving average price of $6.47 and a 200 day moving average price of $7.65. Bausch Health Companies has a 12 month low of $3.96 and a 12 month high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. Bausch Health Companies had a negative return on equity of 813.85% and a negative net margin of 5.12%. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the firm posted $0.81 EPS. On average, equities analysts forecast that Bausch Health Companies will post 3.58 EPS for the current year.

Institutional Trading of Bausch Health Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Bausch Health Companies in the 4th quarter valued at approximately $31,121,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Bausch Health Companies by 1,050.8% during the first quarter. Hillsdale Investment Management Inc. now owns 3,409,383 shares of the company’s stock worth $36,135,000 after purchasing an additional 3,113,123 shares during the period. SG Americas Securities LLC grew its position in Bausch Health Companies by 3,080.9% in the 1st quarter. SG Americas Securities LLC now owns 2,200,526 shares of the company’s stock valued at $23,348,000 after buying an additional 2,131,347 shares during the last quarter. Crestline Management LP acquired a new position in Bausch Health Companies in the 4th quarter valued at $16,040,000. Finally, Mackenzie Financial Corp raised its position in Bausch Health Companies by 111.0% during the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company’s stock worth $16,612,000 after buying an additional 1,252,834 shares during the last quarter. 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.