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

Bausch Health Companies (NYSE:BHC) had its price objective dropped by investment analysts at Royal Bank of Canada from $12.00 to $11.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 29.26% from the stock’s previous close.

A number of other brokerages have also recently commented on BHC. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Jefferies Financial Group dropped their price objective on Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 20th.

Bausch Health Companies Stock Up 0.7 %

NYSE BHC traded up $0.06 during trading on Tuesday, hitting $8.51. 588,037 shares of the stock traded hands, compared to its average volume of 2,757,179. The company has a market capitalization of $3.11 billion, a P/E ratio of -5.23 and a beta of 0.85. The firm has a 50-day simple moving average of $9.29 and a 200-day simple moving average of $8.16. Bausch Health Companies has a 12-month low of $5.57 and a 12-month high of $11.46.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 EPS. As a group, research analysts predict that Bausch Health Companies will post 3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch Health Companies

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS Group AG raised its position in Bausch Health Companies by 127.9% during the 3rd quarter. UBS Group AG now owns 394,232 shares of the company’s stock valued at $3,241,000 after purchasing an additional 221,213 shares in the last quarter. Readystate Asset Management LP bought a new stake in Bausch Health Companies during the 4th quarter valued at $2,933,000. Deutsche Bank AG raised its position in Bausch Health Companies by 1,397.8% during the 3rd quarter. Deutsche Bank AG now owns 362,850 shares of the company’s stock valued at $2,983,000 after purchasing an additional 338,624 shares in the last quarter. Vanguard Group Inc. raised its position in Bausch Health Companies by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 11,487,768 shares of the company’s stock valued at $94,429,000 after purchasing an additional 175,489 shares in the last quarter. Finally, Segantii Capital Management Ltd raised its position in Bausch Health Companies by 20.0% during the 3rd quarter. Segantii Capital Management Ltd now owns 3,000,000 shares of the company’s stock valued at $24,660,000 after purchasing an additional 500,000 shares in the last quarter. 78.65% of the stock is owned by institutional investors.

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.