Royal Bank of Canada Lowers Bausch Health Companies (NYSE:BHC) Price Target to $8.50

Bausch Health Companies (NYSE:BHC) had its price target dropped by Royal Bank of Canada from $9.00 to $8.50 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 64.89% from the stock’s previous close.

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $8.00 price target (down from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.17.

Bausch Health Companies Stock Performance

Shares of Bausch Health Companies stock traded down $0.18 during trading hours on Monday, reaching $5.16. The company’s stock had a trading volume of 2,307,306 shares, compared to its average volume of 2,731,237. Bausch Health Companies has a one year low of $3.96 and a one year high of $10.46. The stock has a market cap of $1.90 billion, a P/E ratio of -42.95, a price-to-earnings-growth ratio of 0.37 and a beta of 0.43. The company’s 50 day simple moving average is $6.91 and its 200 day simple moving average is $7.69.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Wednesday, February 19th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.44). Bausch Health Companies had a negative return on equity of 577.82% and a negative net margin of 0.48%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. On average, sell-side analysts predict that Bausch Health Companies will post 4.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Bausch Health Companies by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,478 shares of the company’s stock valued at $10,373,000 after buying an additional 42,539 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Bausch Health Companies during the third quarter worth approximately $808,000. XTX Topco Ltd purchased a new position in Bausch Health Companies during the 3rd quarter worth $938,000. Geode Capital Management LLC increased its holdings in Bausch Health Companies by 20.5% during the third quarter. Geode Capital Management LLC now owns 636,082 shares of the company’s stock worth $6,448,000 after buying an additional 108,269 shares during the last quarter. Finally, Range Financial Group LLC bought a new stake in shares of Bausch Health Companies in the fourth quarter valued at approximately $1,004,000. 78.65% of the stock is currently owned by institutional investors.

About Bausch Health Companies

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.