Bausch Health Companies (NYSE:BHC) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Bausch Health Companies (NYSE:BHC) in a research report sent to investors on Friday, Benzinga reports. The firm currently has a $12.00 price target on the stock.

A number of other research analysts also recently commented on the stock. StockNews.com raised shares of Bausch Health Companies from a hold rating to a buy rating in a research note on Wednesday, February 7th. Jefferies Financial Group lowered their target price on shares of Bausch Health Companies from $16.00 to $14.00 and set a buy rating for the company in a report on Tuesday, February 20th.

Bausch Health Companies Price Performance

NYSE:BHC opened at $8.64 on Friday. The firm has a market cap of $3.16 billion, a PE ratio of -5.33 and a beta of 0.85. The firm has a 50 day simple moving average of $9.25 and a 200-day simple moving average of $8.14. Bausch Health Companies has a 1-year low of $5.57 and a 1-year high of $11.46.

Bausch Health Companies (NYSE:BHC) last released its earnings results on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.01 by $0.14. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 5,147.48%. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the company earned $1.02 EPS. Bausch Health Companies’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Bausch Health Companies will post 3.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bausch Health Companies

Hedge funds and other institutional investors have recently modified their holdings of the company. Aviva PLC lifted its stake in shares of Bausch Health Companies by 2.2% during the first quarter. Aviva PLC now owns 45,626 shares of the company’s stock worth $1,044,000 after purchasing an additional 971 shares in the last quarter. CIBC Asset Management Inc lifted its position in Bausch Health Companies by 0.5% during the 2nd quarter. CIBC Asset Management Inc now owns 267,868 shares of the company’s stock worth $2,145,000 after acquiring an additional 1,428 shares in the last quarter. Legal & General Group Plc lifted its position in Bausch Health Companies by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 296,379 shares of the company’s stock worth $2,455,000 after acquiring an additional 1,565 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Bausch Health Companies by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 211,993 shares of the company’s stock worth $1,696,000 after acquiring an additional 1,945 shares during the period. Finally, Gabelli Funds LLC grew its position in Bausch Health Companies by 2.2% in the first quarter. Gabelli Funds LLC now owns 93,000 shares of the company’s stock valued at $753,000 after acquiring an additional 2,000 shares in the last quarter. 78.65% of the stock is owned by institutional investors and hedge funds.

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.