Bausch Health Cos (NYSE:BHC) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Bausch Health Cos (NYSE:BHC) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Other equities analysts also recently issued reports about the company. Zacks Research downgraded Bausch Health Cos from a “hold” rating to a “strong sell” rating in a research note on Friday, July 24th. Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings lowered Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada cut their price objective on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $8.00.

Bausch Health Cos Trading Up 14.4%

Shares of Bausch Health Cos stock opened at $6.90 on Friday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -2.33 and a beta of 0.42. Bausch Health Cos has a 52-week low of $4.33 and a 52-week high of $8.69. The company’s 50-day simple moving average is $4.99 and its 200-day simple moving average is $5.47. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.30. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 1,389.97%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.59 billion. As a group, equities research analysts anticipate that Bausch Health Cos will post 4.05 earnings per share for the current year.

Insider Transactions at Bausch Health Cos

In other Bausch Health Cos news, Director Frank D. Lee sold 24,456 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total value of $132,796.08. Following the completion of the transaction, the director directly owned 49,339 shares of the company’s stock, valued at approximately $267,910.77. This trade represents a 33.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 20.67% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Cos

Institutional investors and hedge funds have recently modified their holdings of the company. Amundi increased its stake in 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 purchasing an additional 9,148 shares in the last quarter. Royal Bank of Canada grew its holdings in Bausch Health Cos by 24.9% in the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock valued at $61,362,000 after purchasing an additional 2,262,894 shares during the last quarter. Whitebox Advisors LLC increased its position in shares of Bausch Health Cos by 3.7% in the first quarter. Whitebox Advisors LLC now owns 564,672 shares of the company’s stock valued at $3,049,000 after buying an additional 20,175 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Bausch Health Cos by 15.5% in the first quarter. Lazard Asset Management LLC now owns 53,139 shares of the company’s stock valued at $287,000 after buying an additional 7,114 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Bausch Health Cos by 10.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,575,772 shares of the company’s stock worth $8,509,000 after buying an additional 143,581 shares during the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

About Bausch Health Cos

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.