Brokerages Set Bausch Health Companies Inc. (NYSE:BHC) Target Price at $7.42

Bausch Health Companies Inc. (NYSE:BHC) has been given an average rating of “Reduce” by the seven ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $7.42.

Several research analysts have commented on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $8.00 price target (down previously from $12.00) on shares of Bausch Health Companies in a report on Thursday, February 6th. Royal Bank of Canada lowered their target price on shares of Bausch Health Companies from $11.00 to $10.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th.

Bausch Health Companies Stock Up 1.3 %

NYSE:BHC opened at $6.88 on Friday. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -57.29, a price-to-earnings-growth ratio of 0.37 and a beta of 0.59. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The stock’s fifty day moving average is $7.25 and its two-hundred day moving average is $7.64.

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

Hedge Funds Weigh In On Bausch Health Companies

A number of hedge funds have recently modified their holdings of BHC. Goldentree Asset Management LP increased its stake in Bausch Health Companies by 31.0% in the third quarter. Goldentree Asset Management LP now owns 29,395,745 shares of the company’s stock valued at $239,552,000 after purchasing an additional 6,958,717 shares during the period. Vanguard Group Inc. increased its position in Bausch Health Companies by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company’s stock valued at $94,460,000 after acquiring an additional 145,078 shares during the period. Franklin Resources Inc. raised its stake in Bausch Health Companies by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 5,316,822 shares of the company’s stock valued at $42,855,000 after acquiring an additional 56,446 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its position in Bausch Health Companies by 156.7% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 5,300,000 shares of the company’s stock worth $42,718,000 after acquiring an additional 3,235,100 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Bausch Health Companies by 46.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company’s stock valued at $38,501,000 after purchasing an additional 1,510,445 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other 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.