Bausch Health Companies (NYSE:BHC) Given New $12.00 Price Target at Royal Bank of Canada

Bausch Health Companies (NYSE:BHC) had its price target boosted by investment analysts at Royal Bank of Canada from $9.00 to $12.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 15.27% from the company’s previous close.

Several other analysts also recently issued reports on the stock. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Jefferies Financial Group lowered their price target on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th.

Bausch Health Companies Stock Up 3.6 %

Shares of NYSE:BHC opened at $10.41 on Friday. The company’s fifty day moving average is $9.12 and its two-hundred day moving average is $8.11. Bausch Health Companies has a 12-month low of $5.57 and a 12-month high of $11.46. The company has a market cap of $3.80 billion, a P/E ratio of -6.43 and a beta of 0.85.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.14. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the business earned $1.02 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Bausch Health Companies will post 3.95 earnings per share for the current year.

Hedge Funds Weigh In On Bausch Health Companies

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldentree Asset Management LP boosted its holdings in Bausch Health Companies by 19.6% in the third quarter. Goldentree Asset Management LP now owns 23,987,462 shares of the company’s stock worth $197,177,000 after purchasing an additional 3,931,234 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in Bausch Health Companies by 67.7% in the third quarter. Nomura Holdings Inc. now owns 18,086,000 shares of the company’s stock worth $148,667,000 after purchasing an additional 7,303,015 shares in the last quarter. National Bank of Canada FI boosted its holdings in Bausch Health Companies by 18.8% in the third quarter. National Bank of Canada FI now owns 15,661,724 shares of the company’s stock worth $127,486,000 after purchasing an additional 2,480,084 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Bausch Health Companies by 30.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 13,000,000 shares of the company’s stock worth $104,260,000 after purchasing an additional 3,000,000 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Bausch Health Companies by 227.2% in the fourth quarter. Royal Bank of Canada now owns 11,743,558 shares of the company’s stock worth $94,183,000 after purchasing an additional 8,154,938 shares in the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Companies

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.