Bausch Health Companies (NYSE:BHC) Price Target Raised to $11.00 at Royal Bank of Canada

Bausch Health Companies (NYSE:BHC - Get Free Report) had its target price hoisted by analysts at Royal Bank of Canada from $10.00 to $11.00 in a report issued on Friday, Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's target price would suggest a potential upside of 12.47% from the stock's current price.

A number of other research firms have also weighed in on BHC. Raymond James initiated coverage on shares of Bausch Health Companies in a research report on Wednesday, July 10th. They issued a "market perform" rating and a $8.00 price objective on the stock. StockNews.com raised shares of Bausch Health Companies from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Evercore ISI upgraded Bausch Health Companies to a "hold" rating in a research report on Tuesday, October 15th. Piper Sandler downgraded Bausch Health Companies from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $9.00 to $3.00 in a research note on Friday, August 2nd. Finally, Jefferies Financial Group cut their price objective on Bausch Health Companies from $13.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.75.

Bausch Health Companies Stock Performance

NYSE BHC traded up $0.58 on Friday, reaching $9.78. The stock had a trading volume of 3,455,758 shares, compared to its average volume of 2,943,669. The stock has a market cap of $3.59 billion, a P/E ratio of -20.38 and a beta of 0.77. The business's 50-day moving average price is $7.47 and its 200 day moving average price is $7.06. Bausch Health Companies has a 12-month low of $3.96 and a 12-month high of $11.46.

Bausch Health Companies (NYSE:BHC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 850.93%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the firm posted $1.03 EPS. Bausch Health Companies's revenue for the quarter was up 12.2% on a year-over-year basis. On average, sell-side analysts predict that Bausch Health Companies will post 3.6 earnings per share for the current year.

Insider Activity at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the firm'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 transaction, the executive vice president now directly owns 435,198 shares of the company's stock, valued at $2,702,579.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.12% of the stock is owned by corporate insiders.

Institutional Trading of Bausch Health Companies

A number of large investors have recently made changes to their positions in BHC. Intact Investment Management Inc. purchased a new position in shares of Bausch Health Companies during the third quarter valued at approximately $1,543,000. Van ECK Associates Corp lifted its stake in shares of Bausch Health Companies by 13.5% during the 3rd quarter. Van ECK Associates Corp now owns 343,268 shares of the company's stock worth $2,770,000 after purchasing an additional 40,797 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Bausch Health Companies during the third quarter worth $1,910,000. Creative Planning grew its position in shares of Bausch Health Companies by 16.9% in the third quarter. Creative Planning now owns 55,351 shares of the company's stock valued at $452,000 after purchasing an additional 7,995 shares during the period. Finally, Clearline Capital LP acquired a new position in Bausch Health Companies in the second quarter valued at $6,881,000. Institutional investors and hedge funds 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.