Royal Bank of Canada Has Lowered Expectations for Bausch Health Companies (NYSE:BHC) Stock Price

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

Separately, Jefferies Financial Group reissued a “hold” rating and set a $8.00 target price (down previously from $12.00) on shares of Bausch Health Companies in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Bausch Health Companies has a consensus rating of “Hold” and a consensus price target of $7.17.

Bausch Health Companies Stock Performance

Shares of NYSE BHC traded down $0.18 during midday trading on Monday, hitting $5.16. 2,307,306 shares of the stock traded hands, 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 firm has a 50-day moving average of $6.91 and a two-hundred day moving average of $7.69. The firm has a market capitalization of $1.90 billion, a P/E ratio of -42.95, a PEG ratio of 0.37 and a beta of 0.43.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.44). Bausch Health Companies had a negative net margin of 0.48% and a negative return on equity of 577.82%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Equities analysts forecast 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 modified their holdings of BHC. Maple Rock Capital Partners Inc. raised its holdings in Bausch Health Companies by 156.7% during the fourth quarter. Maple Rock Capital Partners Inc. now owns 5,300,000 shares of the company’s stock worth $42,718,000 after purchasing an additional 3,235,100 shares in the last quarter. Compass Rose Asset Management LP raised its stake in Bausch Health Companies by 366.7% in the 4th quarter. Compass Rose Asset Management LP now owns 2,100,000 shares of the company’s stock valued at $16,926,000 after purchasing an additional 1,650,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Bausch Health Companies by 46.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,770,793 shares of the company’s stock worth $38,501,000 after acquiring an additional 1,510,445 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Bausch Health Companies by 62.0% in the fourth quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company’s stock valued at $26,614,000 after purchasing an additional 1,263,706 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Bausch Health Companies by 989.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 611,890 shares of the company’s stock worth $4,940,000 after acquiring an additional 555,709 shares during the period. 78.65% of the stock is 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.