Bausch Health Companies Inc. (NYSE:BHC) Receives Average Recommendation of "Hold" from Analysts

Shares of Bausch Health Companies Inc. (NYSE:BHC - Get Free Report) have been assigned an average recommendation of "Hold" from the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $7.75.

A number of research firms have commented on BHC. Jefferies Financial Group reduced their price target on shares of Bausch Health Companies from $13.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. StockNews.com raised Bausch Health Companies from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Royal Bank of Canada lifted their price target on shares of Bausch Health Companies from $10.00 to $11.00 and gave the stock a "sector perform" rating in a research report on Friday, November 1st. Piper Sandler cut Bausch Health Companies from a "neutral" rating to an "underweight" rating and decreased their target price for the company from $9.00 to $3.00 in a research note on Friday, August 2nd. Finally, Evercore ISI raised Bausch Health Companies to a "hold" rating in a research report on Tuesday, October 15th.

Bausch Health Companies Trading Up 2.7 %

NYSE:BHC traded up $0.21 during mid-day trading on Wednesday, hitting $8.10. The company's stock had a trading volume of 394,271 shares, compared to its average volume of 2,844,888. The stock has a fifty day moving average of $8.40 and a 200-day moving average of $7.12. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of -16.44 and a beta of 0.74. Bausch Health Companies has a fifty-two week low of $3.96 and a fifty-two week high of $11.46.

Bausch Health Companies (NYSE:BHC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.02 by $0.10. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.42 billion. Bausch Health Companies had a negative return on equity of 755.86% and a negative net margin of 1.88%. Bausch Health Companies's quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, equities analysts anticipate that Bausch Health Companies will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the company's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the sale, the executive vice president now owns 435,198 shares of the company's stock, valued at approximately $2,702,579.58. This represents a 2.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.12% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldentree Asset Management LP increased its position in Bausch Health Companies by 31.0% during the 3rd quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company's stock worth $239,552,000 after purchasing an additional 6,958,717 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Bausch Health Companies by 234.0% during the third quarter. Bank of Montreal Can now owns 3,833,179 shares of the company's stock worth $31,598,000 after buying an additional 2,685,675 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new position in shares of Bausch Health Companies during the third quarter worth $16,850,000. Mackenzie Financial Corp lifted its stake in shares of Bausch Health Companies by 111.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,381,888 shares of the company's stock valued at $16,612,000 after acquiring an additional 1,252,834 shares during the last quarter. Finally, Clearline Capital LP acquired a new stake in shares of Bausch Health Companies during the 2nd quarter valued at $6,881,000. Institutional investors own 78.65% of the company's stock.

About Bausch Health Companies

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.