Bausch Health Cos Inc. (NYSE:BHC) Given Average Recommendation of “Reduce” by Analysts

Bausch Health Cos Inc. (NYSE:BHC) has been assigned an average rating of “Reduce” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $8.00.

BHC has been the topic of several analyst reports. Royal Bank Of Canada lowered their price objective on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday, April 27th. Weiss Ratings cut shares of Bausch Health Cos from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 4th.

Insider Buying and Selling

In other news, Director Frank D. Lee sold 24,456 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $5.43, for a total value of $132,796.08. Following the transaction, the director directly owned 49,339 shares in the company, valued at $267,910.77. The trade was a 33.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bausch Health Cos

Several large investors have recently made changes to their positions in BHC. Norges Bank bought a new position in shares of Bausch Health Cos during the 4th quarter valued at approximately $25,592,000. MUFG Securities EMEA plc bought a new stake in Bausch Health Cos in the second quarter worth about $22,644,000. Paulson & CO. Inc. boosted its holdings in Bausch Health Cos by 3.5% during the 4th quarter. Paulson & CO. Inc. now owns 73,255,869 shares of the company’s stock valued at $509,128,000 after acquiring an additional 2,500,000 shares during the period. Royal Bank of Canada boosted its stake in shares of Bausch Health Cos by 24.9% during the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock valued at $61,362,000 after purchasing an additional 2,262,894 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Bausch Health Cos by 65.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,143,641 shares of the company’s stock worth $35,748,000 after acquiring an additional 2,038,813 shares in the last quarter. 78.65% of the stock is owned by institutional investors.

Bausch Health Cos Stock Up 0.5%

Shares of Bausch Health Cos stock opened at $4.92 on Friday. The company has a 50-day moving average of $5.24 and a 200 day moving average of $5.79. Bausch Health Cos has a 1 year low of $4.57 and a 1 year high of $8.69. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -1.52 and a beta of 0.42. The company has a debt-to-equity ratio of 54.68, a current ratio of 1.32 and a quick ratio of 0.97.

Bausch Health Cos (NYSE:BHC) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.03). Bausch Health Cos had a negative return on equity of 2,922.77% and a negative net margin of 11.47%.The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.37 billion. As a group, sell-side analysts anticipate that Bausch Health Cos will post 4.05 earnings per share for the current fiscal 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.