Bausch Health Cos (NYSE:BHC) Stock Rating Lowered by Zacks Research

Bausch Health Cos (NYSE:BHC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks reports.

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

Bausch Health Cos Stock Up 3.0%

NYSE:BHC traded up $0.23 during trading hours on Thursday, reaching $8.20. 3,067,504 shares of the company’s stock were exchanged, compared to its average volume of 4,319,254. The company has a market capitalization of $3.07 billion, a P/E ratio of -3.58 and a beta of 0.30. Bausch Health Cos has a 12 month low of $4.33 and a 12 month high of $9.04. The business’s 50-day simple moving average is $6.40 and its two-hundred day simple moving average is $5.74.

Bausch Health Cos (NYSE:BHC) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.52. The company had revenue of $2.90 billion during 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%. As a group, sell-side analysts anticipate that Bausch Health Cos will post 4.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bausch Health Cos news, insider Aimee Lenar sold 36,827 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total transaction of $258,893.81. Following the sale, the insider directly owned 334,853 shares of the company’s stock, valued at $2,354,016.59. The trade was a 9.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 20.67% of the company’s stock.

Institutional Trading of Bausch Health Cos

Several hedge funds and other institutional investors have recently modified their holdings of the business. Paulson & CO. Inc. acquired a new position in Bausch Health Cos during the second quarter valued at $361,151,000. MFN Partners Management LP purchased a new position in Bausch Health Cos during the 2nd quarter valued at about $29,580,000. Royal Bank of Canada grew its stake in Bausch Health Cos by 24.9% during the 1st quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock valued at $61,362,000 after acquiring an additional 2,262,894 shares in the last quarter. Man Group plc acquired a new position in shares of Bausch Health Cos in the 2nd quarter valued at about $7,157,000. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of Bausch Health Cos by 6,366.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 757,203 shares of the company’s stock valued at $4,876,000 after purchasing an additional 745,493 shares during the period. 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.