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

Bausch Health Companies (NYSE:BHC) had its price objective reduced by equities researchers at Royal Bank of Canada from $9.00 to $8.50 in a research note 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 76.86% from the stock’s current price.

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

Bausch Health Companies Stock Performance

Shares of BHC stock opened at $4.81 on Monday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -40.05, a PEG ratio of 0.37 and a beta of 0.43. The company has a 50-day simple moving average of $6.75 and a 200 day simple moving average of $7.63. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $9.87.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. bought a new stake in Bausch Health Companies during the fourth quarter worth approximately $56,000. Bank of Nova Scotia purchased a new position in Bausch Health Companies during the 4th quarter valued at $83,000. One68 Global Capital LLC purchased a new stake in Bausch Health Companies in the fourth quarter worth $90,000. Balyasny Asset Management L.P. purchased a new position in Bausch Health Companies in the 4th quarter worth about $97,000. Finally, Alpine Global Management LLC purchased a new position in shares of Bausch Health Companies during the fourth quarter worth approximately $114,000. 78.65% of the stock is 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.