Bausch Health Cos Inc. (NYSE:BHC) Receives Average Rating of “Reduce” from Analysts

Shares of Bausch Health Cos Inc. (NYSE:BHC) have been given a consensus recommendation of “Reduce” by the seven brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.00.

Several equities research analysts have recently commented on BHC shares. Jefferies Financial Group upgraded Bausch Health Cos to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Zacks Research cut shares of Bausch Health Cos from a “hold” rating to a “strong sell” rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada cut their price objective on shares of Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th.

Insider Activity

In related news, Director Frank D. Lee sold 24,456 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total transaction of $132,796.08. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed 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 currently owned by company insiders.

Hedge Funds Weigh In On Bausch Health Cos

Large investors have recently modified their holdings of the business. Caption Management LLC lifted its holdings in shares of Bausch Health Cos by 101.1% in the 4th quarter. Caption Management LLC now owns 4,464 shares of the company’s stock valued at $31,000 after buying an additional 405,789 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Bausch Health Cos by 12,589.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock valued at $34,000 after buying an additional 4,910 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Bausch Health Cos by 6,661.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock worth $35,000 after acquiring an additional 5,329 shares during the period. Russell Investments Group Ltd. grew its holdings in Bausch Health Cos by 65.9% during the second 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. Finally, Camelot Portfolios LLC purchased a new position in Bausch Health Cos in the fourth quarter worth $59,000. 78.65% of the stock is owned by hedge funds and other institutional investors.

Bausch Health Cos Stock Performance

Shares of BHC stock opened at $4.67 on Thursday. The stock has a market capitalization of $1.75 billion, a PE ratio of -1.44 and a beta of 0.42. Bausch Health Cos has a 52-week low of $4.33 and a 52-week high of $8.69. The stock’s 50-day moving average price is $4.95 and its 200 day moving average price is $5.47. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.96 by $0.30. 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 $2.83 billion during the quarter, compared to the consensus estimate of $2.59 billion. As a group, equities research analysts forecast that Bausch Health Cos will post 4.05 EPS for the current year.

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.