Brokerages Set Bausch Health Cos Inc. (NYSE:BHC) Price Target at $8.00

Bausch Health Cos Inc. (NYSE:BHC) has been assigned an average recommendation of “Reduce” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.00.

A number of equities research analysts have commented on BHC shares. Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Zacks Research raised Bausch Health Cos from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, Jefferies Financial Group raised Bausch Health Cos to a “hold” rating in a report on Wednesday, July 22nd.

Insider Activity at Bausch Health Cos

In other Bausch Health Cos news, insider Aimee J. Lenar sold 36,827 shares of Bausch Health Cos stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.03, for a total value of $258,893.81. Following the sale, the insider owned 334,853 shares of the company’s stock, valued at $2,354,016.59. The trade was a 9.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Cos

Institutional investors have recently modified their holdings of the stock. Tacita Capital Inc purchased a new position in shares of Bausch Health Cos during the second quarter valued at approximately $29,000. Caption Management LLC raised its holdings in shares of Bausch Health Cos by 101.1% in the fourth quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after buying an additional 405,789 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Bausch Health Cos by 12,589.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock worth $34,000 after acquiring an additional 4,910 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Bausch Health Cos by 6,661.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock valued at $35,000 after acquiring an additional 5,329 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Bausch Health Cos by 65.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after acquiring an additional 3,106 shares during the last quarter. 78.65% of the stock is owned by institutional investors.

Bausch Health Cos Stock Up 0.2%

Bausch Health Cos stock opened at $6.31 on Monday. Bausch Health Cos has a one year low of $4.33 and a one year high of $8.00. The stock has a fifty day moving average of $5.53 and a 200 day moving average of $5.49. The company has a debt-to-equity ratio of 54.68, a quick ratio of 1.08 and a current ratio of 1.44. The stock has a market cap of $2.36 billion, a PE ratio of -2.13 and a beta of 0.38.

Bausch Health Cos (NYSE:BHC) last announced its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.30. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.59 billion. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. As a group, sell-side analysts predict that Bausch Health Cos will post 4.35 EPS for the current 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.