Bausch Health Companies (NYSE:BHC) Price Target Cut to $11.00

Bausch Health Companies (NYSE:BHC) had its target price lowered by investment analysts at Royal Bank of Canada from $12.00 to $11.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 28.43% from the company’s previous close.

Other analysts also recently issued reports about the stock. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Jefferies Financial Group reduced their price objective on Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th.

Bausch Health Companies Trading Up 0.4 %

Shares of Bausch Health Companies stock opened at $8.57 on Tuesday. Bausch Health Companies has a 12-month low of $5.57 and a 12-month high of $11.46. The firm’s 50 day simple moving average is $9.29 and its two-hundred day simple moving average is $8.16. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -5.29 and a beta of 0.85.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.14. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.29 billion. Bausch Health Companies had a positive return on equity of 5,147.48% and a negative net margin of 6.76%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. On average, sell-side analysts predict that Bausch Health Companies will post 3.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch Health Companies

Large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its position in shares of Bausch Health Companies by 16.3% in the third quarter. Commonwealth Equity Services LLC now owns 45,699 shares of the company’s stock worth $376,000 after acquiring an additional 6,399 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Bausch Health Companies by 15.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,783 shares of the company’s stock valued at $470,000 after purchasing an additional 7,465 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Bausch Health Companies by 8.1% in the 3rd quarter. Mackenzie Financial Corp now owns 1,231,232 shares of the company’s stock worth $9,869,000 after purchasing an additional 92,515 shares during the period. Park Avenue Securities LLC purchased a new position in Bausch Health Companies during the third quarter worth approximately $169,000. Finally, TD Asset Management Inc grew its holdings in Bausch Health Companies by 17.5% in the third quarter. TD Asset Management Inc now owns 1,137,247 shares of the company’s stock valued at $9,421,000 after purchasing an additional 169,531 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Companies Company Profile

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.