Zacks Research upgraded shares of Bausch Health Cos (NYSE:BHC – Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks reports.
A number of other brokerages also recently issued reports on BHC. Weiss Ratings upgraded shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Jefferies Financial Group raised shares of Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.00.
Check Out Our Latest Stock Analysis on BHC
Bausch Health Cos Price Performance
Bausch Health Cos (NYSE:BHC – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.30. Bausch Health Cos had a negative return on equity of 561.95% and a negative net margin of 10.12%.The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Analysts forecast that Bausch Health Cos will post 4.35 EPS for the current fiscal year.
Insider Buying and Selling
In other Bausch Health Cos news, insider Aimee Lenar sold 36,827 shares of Bausch Health Cos stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total value of $258,893.81. Following the transaction, the insider directly owned 334,853 shares in the company, valued at approximately $2,354,016.59. The trade was a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company’s stock.
Institutional Investors Weigh In On Bausch Health Cos
Large investors have recently modified their holdings of the stock. Paulson & CO. Inc. purchased a new position in Bausch Health Cos during the second quarter worth about $361,151,000. Royal Bank of Canada grew its position in Bausch Health Cos by 24.9% during the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company’s stock worth $61,362,000 after buying an additional 2,262,894 shares during the period. MFN Partners Management LP purchased a new position in Bausch Health Cos in the second quarter valued at about $29,580,000. Norges Bank purchased a new position in Bausch Health Cos in the fourth quarter valued at about $25,592,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bausch Health Cos by 10.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,604,818 shares of the company’s stock valued at $19,456,000 after acquiring an additional 350,823 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.
About Bausch Health Cos
Bausch Health Companies Inc is a multinational specialty pharmaceutical company headquartered in Laval, Quebec. The company develops, manufactures and markets prescription medicines, over-the-counter products and medical devices, with a focus on gastroenterology, neurology, dermatology and other specialty therapeutic areas.
Its portfolio includes gastrointestinal treatments such as Xifaxan, Trulance and Relistor, as well as products for conditions affecting the central nervous system and skin.
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