Brokerages Set Bausch Health Cos Inc. (NYSE:BHC) Target Price at $8.50

Shares of Bausch Health Cos Inc. (NYSE:BHC) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating. The average 12 month price target among brokerages that have covered the stock in the last year is $8.6667.

A number of equities analysts recently commented on the stock. Raymond James Financial reaffirmed a “market perform” rating on shares of Bausch Health Cos in a research note on Monday, January 26th. Barclays initiated coverage on Bausch Health Cos in a research report on Monday, December 8th. They set an “equal weight” rating and a $8.00 target price for the company. Truist Financial increased their price target on Bausch Health Cos from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Bausch Health Cos in a research note on Monday, December 29th. Finally, Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research report on Saturday.

Institutional Investors Weigh In On Bausch Health Cos

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Bausch Health Cos by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 1,723,682 shares of the company’s stock worth $11,980,000 after acquiring an additional 272,035 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Bausch Health Cos in the fourth quarter valued at approximately $139,000. Truist Financial Corp grew its stake in Bausch Health Cos by 132.1% in the fourth quarter. Truist Financial Corp now owns 61,398 shares of the company’s stock worth $390,000 after purchasing an additional 34,946 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Bausch Health Cos by 15.3% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 366,724 shares of the company’s stock worth $2,529,000 after purchasing an additional 48,600 shares during the period. Finally, Camelot Portfolios LLC purchased a new position in Bausch Health Cos during the 4th quarter worth $59,000. Institutional investors own 78.65% of the company’s stock.

Bausch Health Cos Trading Up 1.9%

Shares of BHC stock opened at $5.99 on Thursday. The company has a market cap of $2.22 billion, a PE ratio of 6.18 and a beta of 0.42. Bausch Health Cos has a 1 year low of $4.25 and a 1 year high of $8.69. The stock’s 50 day simple moving average is $6.79 and its two-hundred day simple moving average is $6.71. The company has a debt-to-equity ratio of 57.48, a current ratio of 1.30 and a quick ratio of 0.97.

About Bausch Health Cos

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.