Barclays Issues Positive Forecast for Bausch Health Cos (NYSE:BHC) Stock Price

Bausch Health Cos (NYSE:BHC) had its price objective increased by Barclays from $7.00 to $9.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 8.89% from the company’s current price.

Several other brokerages have also recently issued reports on BHC. Jefferies Financial Group raised their target price on shares of Bausch Health Cos from $6.50 to $8.00 and gave the stock a “hold” rating in a report on Thursday, October 29th. Royal Bank Of Canada upped their price target on shares of Bausch Health Cos from $9.00 to $10.00 and gave the company a “sector perform” rating in a report on Thursday, October 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Bausch Health Cos in a report on Thursday, October 29th. Wall Street Zen raised shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Zacks Research lowered shares of Bausch Health Cos from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 5th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $8.75.

Bausch Health Cos Price Performance

Shares of Bausch Health Cos stock traded down $0.03 on Wednesday, reaching $8.27. 120,239 shares of the company traded hands, compared to its average volume of 2,689,434. Bausch Health Cos has a 52 week low of $4.33 and a 52 week high of $9.04. The company has a 50 day moving average of $6.48 and a 200 day moving average of $5.76. The firm has a market capitalization of $3.09 billion, a PE ratio of -3.62 and a beta of 0.30.

Bausch Health Cos (NYSE:BHC) last posted 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. Bausch Health Cos had a negative net margin of 7.57% and a negative return on equity of 401.73%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.72 billion. As a group, analysts anticipate that Bausch Health Cos will post 4.53 earnings per share for the current year.

Insider Buying and Selling at Bausch Health Cos

In other news, insider Aimee Lenar sold 36,827 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following the transaction, the insider owned 334,853 shares in the company, valued at approximately $2,354,016.59. This represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BHC. Private Advisor Group LLC purchased a new position in Bausch Health Cos in the third quarter worth about $104,000. Cibc World Market Inc. increased its position in shares of Bausch Health Cos by 335.3% during the 3rd quarter. Cibc World Market Inc. now owns 641,095 shares of the company’s stock valued at $3,735,000 after purchasing an additional 493,828 shares during the last quarter. Virtus Advisers LLC purchased a new stake in shares of Bausch Health Cos during the 3rd quarter valued at about $238,000. Ritholtz Wealth Management lifted its stake in shares of Bausch Health Cos by 6.1% in the 3rd quarter. Ritholtz Wealth Management now owns 192,524 shares of the company’s stock worth $1,122,000 after purchasing an additional 10,984 shares during the period. Finally, Lido Advisors LLC lifted its stake in shares of Bausch Health Cos by 421.6% in the 3rd quarter. Lido Advisors LLC now owns 372,508 shares of the company’s stock worth $2,172,000 after purchasing an additional 301,098 shares during the period. 78.65% of the stock is owned by hedge funds and other institutional investors.

Bausch Health Cos Company Profile

Bausch Health Companies Inc. is a global specialty pharmaceutical and medical products company headquartered in Laval, Quebec. It develops, manufactures and markets prescription medicines, over-the-counter products and medical devices, with businesses spanning eye health, gastroenterology, dermatology, neurology and aesthetics. Its portfolio includes Salix products for gastrointestinal conditions, Ortho Dermatologics treatments for skin conditions and Solta Medical aesthetic devices. Bausch Health also retains a controlling ownership interest in Bausch + Lomb, a publicly traded eye-health company whose products include contact lenses, lens care products, pharmaceuticals and surgical devices.