Shares of Bausch Health Companies Inc. (NYSE:BHC – Get Free Report) fell 5.5% on Thursday after Truist Financial lowered their price target on the stock from $8.00 to $7.00. Truist Financial currently has a hold rating on the stock. Bausch Health Companies traded as low as $5.43 and last traded at $5.49. 819,471 shares were traded during trading, a decline of 74% from the average session volume of 3,208,948 shares. The stock had previously closed at $5.81.
Other equities research analysts have also issued reports about the stock. Piper Sandler lifted their price target on shares of Bausch Health Companies from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Royal Bank of Canada decreased their target price on Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 23rd. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Thursday, July 18th. Finally, Raymond James started coverage on Bausch Health Companies in a research note on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.80.
Institutional Investors Weigh In On Bausch Health Companies
Institutional investors and hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. acquired a new position in Bausch Health Companies during the first quarter worth about $32,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Bausch Health Companies by 4.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock worth $933,000 after purchasing an additional 3,519 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Bausch Health Companies during the 4th quarter worth approximately $31,000. Blair William & Co. IL lifted its stake in Bausch Health Companies by 5.0% in the 1st quarter. Blair William & Co. IL now owns 84,245 shares of the company’s stock valued at $894,000 after buying an additional 4,000 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in Bausch Health Companies by 14.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 33,649 shares of the company’s stock valued at $357,000 after buying an additional 4,149 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.
Bausch Health Companies Price Performance
The company has a market cap of $2.12 billion, a PE ratio of -4.74 and a beta of 0.77. The firm has a 50-day simple moving average of $6.74 and a two-hundred day simple moving average of $8.03.
Bausch Health Companies (NYSE:BHC – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.16). Bausch Health Companies had a negative net margin of 5.07% and a negative return on equity of 2,370.91%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.18 billion. Equities research analysts forecast that Bausch Health Companies Inc. will post 3.6 EPS for the current year.
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.