Bausch Health Companies (NYSE:BHC) Downgraded by StockNews.com to “Hold”

Bausch Health Companies (NYSE:BHC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other analysts have also recently commented on BHC. Royal Bank of Canada decreased their price target on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Scotiabank cut their price target on 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. Piper Sandler cut Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $9.00 to $3.00 in a report on Friday, August 2nd. Raymond James assumed coverage on Bausch Health Companies in a research report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 target price for the company. Finally, Truist Financial reduced their price target on shares of Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Bausch Health Companies currently has an average rating of “Hold” and a consensus price target of $7.33.

Bausch Health Companies Stock Up 2.6 %

BHC stock traded up $0.18 during trading on Tuesday, reaching $7.18. The company’s stock had a trading volume of 3,128,668 shares, compared to its average volume of 3,108,010. The company’s fifty day moving average is $6.24 and its 200-day moving average is $7.36. The company has a market capitalization of $2.59 billion, a P/E ratio of -5.79 and a beta of 0.75. Bausch Health Companies has a 1 year low of $3.96 and a 1 year high of $11.46.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. During the same period in the previous year, the firm earned $0.81 EPS. Analysts anticipate that Bausch Health Companies will post 3.61 earnings per share for the current year.

Insider Buying and Selling at Bausch Health Companies

In other Bausch Health Companies news, EVP Seana Carson sold 13,370 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the transaction, the executive vice president now directly owns 435,198 shares in the company, valued at approximately $2,702,579.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BHC. Principal Securities Inc. acquired a new stake in Bausch Health Companies in the 4th quarter worth approximately $31,000. Salem Investment Counselors Inc. purchased a new stake in shares of Bausch Health Companies during the first quarter valued at $32,000. Headlands Technologies LLC acquired a new position in shares of Bausch Health Companies in the 2nd quarter valued at $35,000. MQS Management LLC acquired a new position in shares of Bausch Health Companies in the 2nd quarter valued at $71,000. Finally, Certuity LLC acquired a new stake in Bausch Health Companies during the 2nd quarter worth about $75,000. Institutional investors own 78.65% of the company’s stock.

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.