Wall Street Zen Upgrades Bausch Health Cos (NYSE:BHC) to “Strong-Buy”

Bausch Health Cos (NYSE:BHC) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other analysts have also recently commented on BHC. Truist Financial upped their price target on Bausch Health Cos from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, January 7th. Barclays assumed coverage on Bausch Health Cos in a research note on Monday, December 8th. They set an “equal weight” rating and a $8.00 price objective for the company. Raymond James Financial restated a “market perform” rating on shares of Bausch Health Cos in a research note on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bausch Health Cos in a report on Monday, December 29th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.67.

Bausch Health Cos Trading Up 2.8%

Shares of Bausch Health Cos stock opened at $5.89 on Friday. Bausch Health Cos has a 1-year low of $4.25 and a 1-year high of $8.69. The company’s fifty day simple moving average is $6.81 and its 200-day simple moving average is $6.71. The company has a debt-to-equity ratio of 57.48, a current ratio of 1.30 and a quick ratio of 0.97. The stock has a market capitalization of $2.18 billion, a PE ratio of 6.07 and a beta of 0.42.

Institutional Trading of Bausch Health Cos

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in Bausch Health Cos by 2.6% in the second quarter. Tidal Investments LLC now owns 50,131 shares of the company’s stock valued at $334,000 after buying an additional 1,276 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Bausch Health Cos by 2.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock valued at $690,000 after acquiring an additional 2,552 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Bausch Health Cos by 65.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after purchasing an additional 3,106 shares in the last quarter. Bfsg LLC increased its stake in shares of Bausch Health Cos by 32.8% in the 3rd quarter. Bfsg LLC now owns 14,465 shares of the company’s stock valued at $93,000 after purchasing an additional 3,570 shares in the last quarter. Finally, State of Wyoming raised its holdings in Bausch Health Cos by 6.4% in the 2nd quarter. State of Wyoming now owns 63,653 shares of the company’s stock worth $424,000 after purchasing an additional 3,855 shares during the period. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Cos Company Profile

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.