Bausch Health Cos Inc. (NYSE:BHC – Get Free Report)’s stock price rose 5.1% during trading on Tuesday . The company traded as high as $6.93 and last traded at $6.9150. 970,639 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 2,524,552 shares. The stock had previously closed at $6.58.
Analysts Set New Price Targets
A number of analysts have weighed in on BHC shares. Jefferies Financial Group raised Bausch Health Cos to a “hold” rating in a research report on Wednesday, July 22nd. Zacks Research downgraded shares of Bausch Health Cos from a “hold” rating to a “strong sell” rating in a research note on Friday, July 24th. Weiss Ratings raised shares of Bausch Health Cos from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Royal Bank Of Canada decreased their price objective on Bausch Health Cos from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Monday, April 27th. Finally, Wall Street Zen raised Bausch Health Cos from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $8.00.
View Our Latest Research Report on Bausch Health Cos
Bausch Health Cos Stock Down 0.8%
Bausch Health Cos (NYSE:BHC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.30. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.59 billion. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. On average, sell-side analysts expect that Bausch Health Cos Inc. will post 4.24 EPS for the current fiscal year.
Hedge Funds Weigh In On Bausch Health Cos
Several hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its holdings in shares of Bausch Health Cos by 2.6% in the second quarter. Tidal Investments LLC now owns 50,131 shares of the company’s stock worth $334,000 after acquiring an additional 1,276 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Bausch Health Cos by 14.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,067 shares of the company’s stock valued at $98,000 after purchasing an additional 1,812 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Bausch Health Cos in the 2nd quarter valued at about $148,000. Pictet Asset Management Holding SA lifted its holdings in shares of Bausch Health Cos by 4.1% in the first quarter. Pictet Asset Management Holding SA now owns 54,169 shares of the company’s stock valued at $292,000 after purchasing an additional 2,114 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Bausch Health Cos by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 104,156 shares of the company’s stock worth $690,000 after buying an additional 2,552 shares during the period. Institutional investors and hedge funds own 78.65% of the company’s stock.
About Bausch Health Cos
Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.
The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.
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