Bausch Health Companies (NYSE:BHC) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Bausch Health Companies (NYSE:BHCFree Report) from a buy rating to a hold rating in a research report released on Tuesday morning.

Bausch Health Companies Stock Performance

Shares of BHC opened at $8.19 on Tuesday. The company has a debt-to-equity ratio of 74.20, a quick ratio of 0.89 and a current ratio of 1.20. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -3.10 and a beta of 0.90. The company’s 50 day simple moving average is $7.70 and its 200 day simple moving average is $7.96. Bausch Health Companies has a 1 year low of $5.57 and a 1 year high of $10.23.

Bausch Health Companies (NYSE:BHCGet Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.11. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.16 billion. Bausch Health Companies had a negative net margin of 11.27% and a positive return on equity of 1,124.72%. On average, sell-side analysts predict that Bausch Health Companies will post 3.4 EPS for the current year.

Hedge Funds Weigh In On Bausch Health Companies

Hedge funds have recently made changes to their positions in the business. Segantii Capital Management Ltd raised its stake in shares of Bausch Health Companies by 20.0% in the 3rd quarter. Segantii Capital Management Ltd now owns 3,000,000 shares of the company’s stock valued at $24,660,000 after acquiring an additional 500,000 shares during the period. Whitebox Advisors LLC raised its stake in shares of Bausch Health Companies by 325.8% in the 2nd quarter. Whitebox Advisors LLC now owns 1,090,000 shares of the company’s stock valued at $8,720,000 after acquiring an additional 834,000 shares during the period. Black Swift Group LLC purchased a new position in shares of Bausch Health Companies in the 3rd quarter valued at $411,000. National Bank of Canada FI increased its stake in Bausch Health Companies by 18.8% during the 3rd quarter. National Bank of Canada FI now owns 15,661,724 shares of the company’s stock worth $127,486,000 after buying an additional 2,480,084 shares during the period. Finally, Money Concepts Capital Corp purchased a new stake in Bausch Health Companies during the 3rd quarter worth $10,508,000. Hedge funds and other institutional investors own 74.56% of the company’s stock.

About Bausch Health Companies

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Bausch Health Companies Inc operates as a diversified pharmaceutical company. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, and eye health. The company operates through five segments: Salix, International, Solta Medical, Diversified, and Bausch + Lomb.

Further Reading

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