Royal Bank of Canada Issues Pessimistic Forecast for Bausch Health Companies (NYSE:BHC) Stock Price

Bausch Health Companies (NYSE:BHC - Free Report) had its price target reduced by Royal Bank of Canada from $11.00 to $10.00 in a report published on Thursday, MarketBeat.com reports. They currently have a sector perform rating on the stock.

A number of other equities analysts also recently issued reports on BHC. StockNews.com upgraded Bausch Health Companies from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Evercore ISI upgraded shares of Bausch Health Companies to a "hold" rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.58.

Bausch Health Companies Price Performance

NYSE BHC traded down $0.14 on Thursday, reaching $7.29. The company had a trading volume of 3,141,791 shares, compared to its average volume of 3,226,215. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -15.18 and a beta of 0.69. Bausch Health Companies has a fifty-two week low of $3.96 and a fifty-two week high of $11.46. The business has a 50 day moving average of $7.76 and a two-hundred day moving average of $7.46.

Hedge Funds Weigh In On Bausch Health Companies

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc increased its stake in shares of Bausch Health Companies by 0.3% in the 3rd quarter. CIBC Asset Management Inc now owns 374,729 shares of the company's stock valued at $3,060,000 after acquiring an additional 1,082 shares in the last quarter. Tobam increased its stake in Bausch Health Companies by 10.4% in the fourth quarter. Tobam now owns 15,034 shares of the company's stock valued at $121,000 after purchasing an additional 1,422 shares in the last quarter. Northwest & Ethical Investments L.P. increased its stake in Bausch Health Companies by 13.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 32,384 shares of the company's stock valued at $264,000 after purchasing an additional 3,734 shares in the last quarter. Sanders Morris Harris LLC raised its holdings in shares of Bausch Health Companies by 16.0% during the fourth quarter. Sanders Morris Harris LLC now owns 28,975 shares of the company's stock valued at $234,000 after purchasing an additional 4,000 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Bausch Health Companies by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company's stock worth $1,719,000 after purchasing an additional 4,944 shares in the last quarter. 78.65% of the stock is currently owned by institutional investors.

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.