Bausch Health Cos (NYSE:BHC) Rating Lowered to Buy at Wall Street Zen

Bausch Health Cos (NYSE:BHC) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

A number of other research firms have also commented on BHC. Truist Financial raised their price objective on shares of Bausch Health Cos from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, January 7th. Raymond James Financial upgraded shares of Bausch Health Cos to a “hold” rating in a research note on Monday, December 15th. Barclays assumed coverage on shares of Bausch Health Cos in a report on Monday, December 8th. They issued an “equal weight” rating and a $8.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bausch Health Cos in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Bausch Health Cos has a consensus rating of “Hold” and a consensus price target of $8.50.

Bausch Health Cos Price Performance

BHC opened at $6.98 on Friday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 7.20 and a beta of 0.37. The company has a quick ratio of 0.97, a current ratio of 1.30 and a debt-to-equity ratio of 57.48. The firm has a 50-day moving average price of $6.90 and a 200-day moving average price of $6.78. Bausch Health Cos has a twelve month low of $4.25 and a twelve month high of $8.69.

Institutional Investors Weigh In On Bausch Health Cos

A number of hedge funds have recently made changes to their positions in the business. Tidal Investments LLC raised its stake in Bausch Health Cos by 2.6% in the second quarter. Tidal Investments LLC now owns 50,131 shares of the company’s stock worth $334,000 after buying an additional 1,276 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Bausch Health Cos by 2.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock worth $690,000 after acquiring an additional 2,552 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Bausch Health Cos by 65.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock worth $51,000 after acquiring an additional 3,106 shares during the period. Bfsg LLC raised its position in shares of Bausch Health Cos by 32.8% in the 3rd quarter. Bfsg LLC now owns 14,465 shares of the company’s stock worth $93,000 after acquiring an additional 3,570 shares in the last quarter. Finally, State of Wyoming lifted its stake in shares of Bausch Health Cos by 6.4% in the 2nd quarter. State of Wyoming now owns 63,653 shares of the company’s stock valued at $424,000 after purchasing an additional 3,855 shares during the period. 78.65% of the stock is currently owned by institutional investors.

Bausch Health Cos Company Profile

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.