Bausch Health Companies (NYSE:BHC) Price Target Lowered to $11.00 at Royal Bank of Canada

Bausch Health Companies (NYSE:BHC) had its price target decreased by Royal Bank of Canada from $12.00 to $11.00 in a report released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other research firms also recently commented on BHC. Jefferies Financial Group cut their price objective on Bausch Health Companies from $16.00 to $14.00 and set a buy rating on the stock in a report on Tuesday, February 20th. StockNews.com upgraded Bausch Health Companies from a hold rating to a buy rating in a report on Wednesday, February 7th.

Bausch Health Companies Price Performance

Bausch Health Companies stock opened at $8.53 on Tuesday. The stock’s 50-day moving average is $9.29 and its 200-day moving average is $8.16. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -5.27 and a beta of 0.85. Bausch Health Companies has a 12 month low of $5.57 and a 12 month high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.29 billion. Bausch Health Companies had a positive return on equity of 5,147.48% and a negative net margin of 6.76%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $1.02 EPS. Research analysts anticipate that Bausch Health Companies will post 3.95 EPS for the current year.

Institutional Investors Weigh In On Bausch Health Companies

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG increased its holdings in Bausch Health Companies by 127.9% during the 3rd quarter. UBS Group AG now owns 394,232 shares of the company’s stock worth $3,241,000 after purchasing an additional 221,213 shares during the last quarter. Readystate Asset Management LP purchased a new stake in Bausch Health Companies during the 4th quarter worth approximately $2,933,000. Deutsche Bank AG increased its holdings in Bausch Health Companies by 1,397.8% during the 3rd quarter. Deutsche Bank AG now owns 362,850 shares of the company’s stock worth $2,983,000 after purchasing an additional 338,624 shares during the last quarter. Vanguard Group Inc. increased its holdings in Bausch Health Companies by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 11,487,768 shares of the company’s stock worth $94,429,000 after purchasing an additional 175,489 shares during the last quarter. Finally, Segantii Capital Management Ltd increased its holdings in Bausch Health Companies by 20.0% during the 3rd quarter. Segantii Capital Management Ltd now owns 3,000,000 shares of the company’s stock worth $24,660,000 after purchasing an additional 500,000 shares during 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.