Bausch Health Companies (BHC) Given New $31.00 Price Target at Royal Bank of Canada

Bausch Health Companies (NYSE:BHC) had its price target increased by Royal Bank of Canada from $30.00 to $31.00 in a report published on Wednesday. Royal Bank of Canada currently has a hold rating on the stock.

Several other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of Bausch Health Companies from a hold rating to a sell rating in a research note on Friday, September 7th. Cantor Fitzgerald restated a buy rating and set a $32.00 price target on shares of Bausch Health Companies in a research note on Wednesday, September 12th. Zacks Investment Research upgraded shares of Bausch Health Companies from a hold rating to a buy rating and set a $31.00 price target for the company in a research note on Wednesday, October 3rd. Mizuho restated a buy rating and set a $35.00 price target on shares of Bausch Health Companies in a research note on Monday, October 8th. Finally, Piper Jaffray Companies upgraded shares of Bausch Health Companies from an underweight rating to a neutral rating and raised their price target for the stock from $16.00 to $19.00 in a research note on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $27.55.

Shares of BHC stock traded up $0.20 during trading hours on Wednesday, hitting $27.32. 326,039 shares of the company were exchanged, compared to its average volume of 4,956,439. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 6.99. Bausch Health Companies has a 52-week low of $13.86 and a 52-week high of $28.45. The firm has a market cap of $9.34 billion, a P/E ratio of 7.13, a PEG ratio of 0.38 and a beta of -0.28.

Bausch Health Companies (NYSE:BHC) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.31. Bausch Health Companies had a negative net margin of 40.41% and a positive return on equity of 29.71%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.09 billion. The company’s revenue was down 3.7% on a year-over-year basis. As a group, equities analysts expect that Bausch Health Companies will post 3.51 EPS for the current year.

In related news, EVP Christina Ackermann sold 19,946 shares of Bausch Health Companies stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $24.98, for a total value of $498,251.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Schutter Richard U. De acquired 125,000 shares of Bausch Health Companies stock in a transaction that occurred on Thursday, September 13th. The stock was acquired at an average price of $23.96 per share, with a total value of $2,995,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 165,000 shares of company stock valued at $3,890,700 over the last quarter. 11.54% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Andra AP fonden purchased a new position in Bausch Health Companies in the 3rd quarter valued at approximately $7,039,000. Marshall Wace LLP purchased a new position in Bausch Health Companies in the 2nd quarter valued at approximately $2,974,000. NEXT Financial Group Inc purchased a new position in Bausch Health Companies in the 3rd quarter valued at approximately $101,000. Private Management Group Inc. bought a new position in Bausch Health Companies in the 2nd quarter valued at $28,474,000. Finally, Point View Wealth Management Inc. bought a new position in Bausch Health Companies in the 2nd quarter valued at $1,132,000. Institutional investors and hedge funds own 42.90% of the company’s stock.

Bausch Health Companies Company Profile

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. It offers dermatology products that treat a range of conditions, including actinic keratosis, acne, atopic dermatitis, psoriasis, cold sores, athlete's foot, nail fungus, and other dermatoses, as well as provides aesthetic medical devices, which address various conditions, including facial wrinkles, acne, pigmentation conditions, body sculpting, skin tightening, and laser hair removal.

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Analyst Recommendations for Bausch Health Companies (NYSE:BHC)

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