Bausch Health Companies (NYSE:BHC) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Bausch Health Companies (NYSE:BHCFree Report) from a hold rating to a buy rating in a research note issued to investors on Monday.

Bausch Health Companies Price Performance

Bausch Health Companies stock traded up $0.11 during mid-day trading on Monday, hitting $8.19. 1,396,567 shares of the company traded hands, compared to its average volume of 2,616,766. Bausch Health Companies has a one year low of $5.57 and a one year high of $10.23. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -3.10 and a beta of 0.90. The company has a debt-to-equity ratio of 74.20, a quick ratio of 0.89 and a current ratio of 1.20. The stock has a fifty day moving average price of $7.65 and a 200-day moving average price of $7.98.

Bausch Health Companies (NYSE:BHCGet Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.92 by $0.11. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.16 billion. Bausch Health Companies had a negative net margin of 11.27% and a positive return on equity of 1,124.72%. On average, equities analysts predict that Bausch Health Companies will post 3.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Aviva PLC boosted its stake in Bausch Health Companies by 2.2% in the 1st quarter. Aviva PLC now owns 45,626 shares of the company’s stock worth $1,044,000 after purchasing an additional 971 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Bausch Health Companies by 57.4% during the 2nd quarter. Parallel Advisors LLC now owns 3,262 shares of the company’s stock valued at $26,000 after purchasing an additional 1,189 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Bausch Health Companies by 0.5% in the 2nd quarter. CIBC Asset Management Inc now owns 267,868 shares of the company’s stock worth $2,145,000 after acquiring an additional 1,428 shares in the last quarter. Benedetti & Gucer Inc. increased its holdings in Bausch Health Companies by 11.1% in the 2nd quarter. Benedetti & Gucer Inc. now owns 15,037 shares of the company’s stock worth $120,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Bausch Health Companies by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 296,379 shares of the company’s stock worth $2,455,000 after acquiring an additional 1,565 shares in the last quarter. 74.56% of the stock is owned by hedge funds and other institutional investors.

About Bausch Health Companies

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Bausch Health Companies Inc operates as a diversified pharmaceutical company. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, and eye health. The company operates through five segments: Salix, International, Solta Medical, Diversified, and Bausch + Lomb.

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