Brokerages Set Bausch Health Cos Inc. (NYSE:BHC) Price Target at $8.00

Bausch Health Cos Inc. (NYSE:BHC) has been assigned an average rating of “Reduce” from the five ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.00.

A number of equities research analysts recently weighed in on BHC shares. Weiss Ratings cut Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Wall Street Zen cut Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Royal Bank Of Canada decreased their price objective on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Monday, April 27th. Finally, Barclays decreased their price objective on Bausch Health Cos from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th.

Bausch Health Cos Stock Down 2.0%

NYSE BHC opened at $5.06 on Wednesday. The stock’s 50 day moving average is $5.46 and its 200 day moving average is $5.99. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68. Bausch Health Cos has a 12 month low of $4.93 and a 12 month high of $8.69. The stock has a market cap of $1.89 billion, a PE ratio of -1.56 and a beta of 0.40.

Bausch Health Cos (NYSE:BHC) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%.The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.37 billion. Research analysts predict that Bausch Health Cos will post 4.08 EPS for the current fiscal year.

Insider Transactions at Bausch Health Cos

In related news, Director Frank D. Lee sold 24,456 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total transaction of $132,796.08. Following the transaction, the director directly owned 49,339 shares of the company’s stock, valued at $267,910.77. This represents a 33.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BHC. Vanguard Group Inc. grew its holdings in Bausch Health Cos by 4.0% during the third quarter. Vanguard Group Inc. now owns 12,241,072 shares of the company’s stock worth $78,808,000 after acquiring an additional 470,968 shares during the period. Goldentree Asset Management LP grew its holdings in Bausch Health Cos by 1.7% during the third quarter. Goldentree Asset Management LP now owns 34,833,431 shares of the company’s stock worth $224,409,000 after acquiring an additional 578,542 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Bausch Health Cos during the fourth quarter worth about $3,651,000. Cinctive Capital Management LP acquired a new stake in Bausch Health Cos during the third quarter worth about $697,000. Finally, Private Management Group Inc. grew its holdings in Bausch Health Cos by 13.6% during the third quarter. Private Management Group Inc. now owns 1,621,725 shares of the company’s stock worth $10,460,000 after acquiring an additional 194,158 shares during the period. 78.65% of the stock is owned by institutional investors and hedge funds.

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.