Piper Sandler Cuts Bausch Health Companies (NYSE:BHC) Price Target to $6.00

Bausch Health Companies (NYSE:BHCGet Rating) had its price objective cut by analysts at Piper Sandler from $7.00 to $6.00 in a research report issued on Friday, The Fly reports. Piper Sandler’s price objective would suggest a potential downside of 10.45% from the company’s previous close.

Several other brokerages have also commented on BHC. Royal Bank of Canada boosted their target price on shares of Bausch Health Companies from $4.50 to $8.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 1st. JPMorgan Chase & Co. lowered shares of Bausch Health Companies from an “overweight” rating to a “neutral” rating in a research report on Thursday, July 28th. Finally, Truist Financial lowered shares of Bausch Health Companies from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bausch Health Companies currently has an average rating of “Hold” and a consensus target price of $10.60.

Bausch Health Companies Price Performance

Shares of NYSE BHC opened at $6.70 on Friday. The firm has a market capitalization of $2.42 billion, a P/E ratio of 55.84, a PEG ratio of 0.10 and a beta of 1.21. Bausch Health Companies has a one year low of $4.00 and a one year high of $29.58. The company’s fifty day moving average is $6.86 and its two-hundred day moving average is $13.34. The company has a debt-to-equity ratio of 85.63, a quick ratio of 0.87 and a current ratio of 1.08.

Institutional Investors Weigh In On Bausch Health Companies

Institutional investors and hedge funds have recently made changes to their positions in the business. WASHINGTON TRUST Co purchased a new position in Bausch Health Companies in the 1st quarter valued at about $28,000. Creative Financial Designs Inc. ADV lifted its holdings in Bausch Health Companies by 525.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,250 shares of the company’s stock valued at $29,000 after purchasing an additional 1,050 shares in the last quarter. Glassman Wealth Services lifted its holdings in Bausch Health Companies by 71.4% in the 4th quarter. Glassman Wealth Services now owns 1,152 shares of the company’s stock valued at $32,000 after purchasing an additional 480 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Bausch Health Companies by 85.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 5,607 shares of the company’s stock valued at $45,000 after purchasing an additional 2,578 shares in the last quarter. Finally, Sargent Bickham Lagudis LLC purchased a new position in Bausch Health Companies in the 1st quarter valued at about $57,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Companies

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Bausch Health Companies Inc, together with its subsidiaries, develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through five segments: Bausch + Lomb, Salix, International Rx, Ortho Dermatologics, and Diversified Products.

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