Zacks Research Upgrades Bausch Health Cos (NYSE:BHC) to Strong-Buy

Bausch Health Cos (NYSE:BHC) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

BHC has been the subject of a number of other reports. Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Jefferies Financial Group upgraded shares of Bausch Health Cos to a “hold” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Bausch Health Cos Trading Up 2.9%

Shares of BHC stock opened at $5.80 on Monday. The firm has a 50-day moving average price of $5.95 and a 200 day moving average price of $5.50. Bausch Health Cos has a twelve month low of $4.33 and a twelve month high of $8.00. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -1.96 and a beta of 0.37. The company has a current ratio of 1.44, a quick ratio of 1.08 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.30. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%.The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.59 billion. Research analysts forecast that Bausch Health Cos will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Aimee Lenar sold 36,827 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total transaction of $258,893.81. Following the completion of the transaction, the insider owned 334,853 shares in the company, valued at $2,354,016.59. The trade was a 9.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BHC. Engineers Gate Manager LP raised its holdings in shares of Bausch Health Cos by 149.6% during the second quarter. Engineers Gate Manager LP now owns 249,991 shares of the company’s stock valued at $1,232,000 after purchasing an additional 149,820 shares during the period. Amundi raised its holdings in Bausch Health Cos by 39.9% during the second quarter. Amundi now owns 33,546 shares of the company’s stock worth $165,000 after buying an additional 9,563 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Bausch Health Cos during the second quarter worth $2,565,000. Bank of America Corp DE acquired a new position in shares of Bausch Health Cos during the second quarter valued at about $2,816,000. Finally, Paulson & CO. Inc. acquired a new position in shares of Bausch Health Cos during the second quarter valued at about $361,151,000. 78.65% of the stock is currently owned by institutional investors.

Bausch Health Cos Company Profile

Bausch Health Companies Inc is a multinational specialty pharmaceutical company headquartered in Laval, Quebec. The company develops, manufactures and markets prescription medicines, over-the-counter products and medical devices, with a focus on gastroenterology, neurology, dermatology and other specialty therapeutic areas.

Its portfolio includes gastrointestinal treatments such as Xifaxan, Trulance and Relistor, as well as products for conditions affecting the central nervous system and skin.