Royal Bank of Canada Cuts Bausch Health Companies (NYSE:BHC) Price Target to $10.00

Bausch Health Companies (NYSE:BHC) had its price target decreased by Royal Bank of Canada from $11.00 to $10.00 in a research note released on Thursday morning, MarketBeat reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other equities research analysts also recently weighed in on BHC. Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Bausch Health Companies currently has a consensus rating of “Hold” and an average target price of $7.58.

Bausch Health Companies Price Performance

Shares of Bausch Health Companies stock opened at $7.45 on Thursday. Bausch Health Companies has a 52-week low of $3.96 and a 52-week high of $11.46. The company’s fifty day moving average price is $7.77 and its two-hundred day moving average price is $7.46. The firm has a market capitalization of $2.69 billion, a PE ratio of -15.51 and a beta of 0.69.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Wednesday, October 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 755.86%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Bausch Health Companies’s quarterly revenue was up 12.2% compared to the same quarter last year. Analysts predict that Bausch Health Companies will post 3.73 earnings per share for the current fiscal year.

Institutional Trading of Bausch Health Companies

Several institutional investors and hedge funds have recently bought and sold shares of BHC. Dimensional Fund Advisors LP raised its position in shares of Bausch Health Companies by 12.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,165,512 shares of the company’s stock valued at $22,063,000 after purchasing an additional 341,936 shares during the period. The Manufacturers Life Insurance Company lifted its position in Bausch Health Companies by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 246,808 shares of the company’s stock worth $1,719,000 after acquiring an additional 4,944 shares during the last quarter. Creative Planning boosted its stake in Bausch Health Companies by 16.9% in the 3rd quarter. Creative Planning now owns 55,351 shares of the company’s stock valued at $452,000 after purchasing an additional 7,995 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Bausch Health Companies during the third quarter worth $1,910,000. Finally, Van ECK Associates Corp boosted its position in shares of Bausch Health Companies by 13.5% in the third quarter. Van ECK Associates Corp now owns 343,268 shares of the company’s stock valued at $2,770,000 after acquiring an additional 40,797 shares during the period. 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.