Royal Bank of Canada Cuts Bausch Health Companies (NYSE:BHC) Price Target to $8.50

Bausch Health Companies (NYSE:BHC) had its price target trimmed by Royal Bank of Canada from $9.00 to $8.50 in a report published on Monday,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $8.00 price target (down from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.17.

Bausch Health Companies Price Performance

NYSE BHC opened at $5.03 on Monday. The company has a market cap of $1.85 billion, a P/E ratio of -41.87, a P/E/G ratio of 0.37 and a beta of 0.43. Bausch Health Companies has a 1-year low of $3.96 and a 1-year high of $9.87. The stock has a 50-day moving average of $6.65 and a two-hundred day moving average of $7.59.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.44). Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.51 billion. On average, analysts anticipate that Bausch Health Companies will post 4.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch Health Companies

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Bausch Health Companies by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,478 shares of the company’s stock valued at $10,373,000 after buying an additional 42,539 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Bausch Health Companies in the third quarter valued at $808,000. XTX Topco Ltd purchased a new position in Bausch Health Companies during the third quarter worth about $938,000. Geode Capital Management LLC boosted its stake in Bausch Health Companies by 20.5% in the 3rd quarter. Geode Capital Management LLC now owns 636,082 shares of the company’s stock worth $6,448,000 after buying an additional 108,269 shares during the last quarter. Finally, Range Financial Group LLC purchased a new position in shares of Bausch Health Companies during the 4th quarter worth about $1,004,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

Bausch Health Companies Company Profile

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.