Bausch Health Companies (NYSE:BHC) Price Target Cut to $7.00 by Analysts at Truist Financial

Bausch Health Companies (NYSE:BHC) had its target price decreased by Truist Financial from $8.00 to $7.00 in a research note released on Thursday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research firms also recently commented on BHC. Raymond James initiated coverage on Bausch Health Companies in a report on Wednesday, July 10th. They set a market perform rating and a $8.00 price objective on the stock. Piper Sandler raised their price objective on Bausch Health Companies from $7.00 to $9.00 and gave the stock a neutral rating in a report on Monday, April 29th. Royal Bank of Canada reduced their price objective on Bausch Health Companies from $12.00 to $11.00 and set a sector perform rating on the stock in a report on Tuesday, April 23rd. Finally, StockNews.com upgraded Bausch Health Companies from a hold rating to a buy rating in a report on Thursday, July 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $9.80.

Bausch Health Companies Stock Performance

Shares of BHC stock opened at $5.99 on Thursday. Bausch Health Companies has a 52-week low of $3.96 and a 52-week high of $11.46. The firm has a market capitalization of $2.16 billion, a P/E ratio of -4.83 and a beta of 0.77. The stock has a 50 day moving average price of $6.73 and a 200 day moving average price of $8.00.

Bausch Health Companies (NYSE:BHC) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.16). The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. As a group, sell-side analysts forecast that Bausch Health Companies will post 3.6 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Readystate Asset Management LP purchased a new position in shares of Bausch Health Companies in the 4th quarter valued at $2,933,000. Inspire Investing LLC purchased a new position in Bausch Health Companies during the 1st quarter worth $935,000. Norges Bank purchased a new position in Bausch Health Companies during the 4th quarter worth $31,121,000. Vanguard Group Inc. grew its stake in Bausch Health Companies by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 11,487,768 shares of the company’s stock worth $94,429,000 after buying an additional 175,489 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in Bausch Health Companies by 362.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 296,260 shares of the company’s stock worth $2,378,000 after buying an additional 232,160 shares during the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

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.