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

Bausch Health Companies (NYSE:BHC) had its price objective trimmed by Royal Bank of Canada from $12.00 to $11.00 in a research note released on Tuesday, Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other brokerages have also recently issued reports on BHC. Jefferies Financial Group decreased 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 raised Bausch Health Companies from a hold rating to a buy rating in a report on Wednesday, February 7th.

Bausch Health Companies Price Performance

BHC stock opened at $8.72 on Tuesday. Bausch Health Companies has a 1-year low of $5.57 and a 1-year high of $11.46. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -5.38 and a beta of 0.85. The business has a 50 day simple moving average of $9.30 and a two-hundred day simple moving average of $8.17.

Bausch Health Companies (NYSE:BHC) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.14. The business had revenue of $2.41 billion during 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 firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.02 EPS. Sell-side analysts anticipate that Bausch Health Companies will post 3.95 EPS for the current fiscal year.

Institutional Trading of Bausch Health Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldentree Asset Management LP raised its holdings in Bausch Health Companies by 19.6% during the 3rd quarter. Goldentree Asset Management LP now owns 23,987,462 shares of the company’s stock valued at $197,177,000 after buying an additional 3,931,234 shares during the period. Nomura Holdings Inc. raised its holdings in Bausch Health Companies by 67.7% during the 3rd quarter. Nomura Holdings Inc. now owns 18,086,000 shares of the company’s stock valued at $148,667,000 after buying an additional 7,303,015 shares during the period. Vanguard Group Inc. raised its holdings in Bausch Health Companies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 11,599,131 shares of the company’s stock valued at $93,025,000 after buying an additional 111,363 shares during the period. Hudson Bay Capital Management LP raised its holdings in Bausch Health Companies by 35.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 11,500,000 shares of the company’s stock valued at $94,530,000 after buying an additional 3,000,000 shares during the period. Finally, Mizuho Markets Americas LLC purchased a new stake in Bausch Health Companies in the third quarter worth $57,540,000. Hedge funds and other institutional investors 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.