Bausch Health Cos (NYSE:BHC) Stock Rating Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Bausch Health from “strong buy” to “hold.” Across the analysts cited, six rate the stock Hold and one rates it Sell; MarketBeat lists an average rating of “Reduce” and an average price target of $8.25.
• Bausch reported quarterly EPS of $1.77, beating the $1.25 consensus estimate, and revenue of $2.90 billion versus expectations of $2.72 billion.
• BHC shares opened at $8.20 and were up 3.0% in Thursday’s trading. The stock’s 12-month range is $4.33–$9.04.

Bausch Health Cos (NYSE:BHC - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Thursday, Zacks reports.

Other research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Bausch Health Cos from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Bausch Health Cos in a research note on Thursday, October 29th. Jefferies Financial Group raised their target price on shares of Bausch Health Cos from $6.50 to $8.00 and gave the company a "hold" rating in a research note on Thursday, October 29th. Finally, Royal Bank Of Canada upped their price objective on shares of Bausch Health Cos from $9.00 to $10.00 and gave the stock a "sector perform" rating in a report on Thursday, October 29th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bausch Health Cos has an average rating of "Reduce" and an average price target of $8.25.

Bausch Health Cos Trading Up 3.0%

Shares of Bausch Health Cos stock opened at $8.20 on Thursday. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -3.58 and a beta of 0.30. The company has a fifty day simple moving average of $6.40 and a 200-day simple moving average of $5.74. Bausch Health Cos has a 12-month low of $4.33 and a 12-month high of $9.04.

Bausch Health Cos (NYSE:BHC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.25 by $0.52. The firm had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.72 billion. Bausch Health Cos had a negative net margin of 7.57% and a negative return on equity of 401.73%. On average, analysts forecast that Bausch Health Cos will post 4.53 earnings per share for the current fiscal year.

Insider Activity at Bausch Health Cos

In other 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 of the company's stock, valued at $2,354,016.59. The trade was a 9.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.67% of the company's stock.

Hedge Funds Weigh In On Bausch Health Cos

Hedge funds and other institutional investors have recently made changes to their positions in the business. Roxbury Financial LLC bought a new stake in Bausch Health Cos in the third quarter worth approximately $28,000. Tacita Capital Inc acquired a new position in shares of Bausch Health Cos during the 2nd quarter worth about $29,000. Ascent Group LLC bought a new stake in shares of Bausch Health Cos during the 3rd quarter worth about $67,000. Commonwealth Equity Services LLC raised its stake in Bausch Health Cos by 22.7% in the third quarter. Commonwealth Equity Services LLC now owns 12,992 shares of the company's stock valued at $76,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Amundi increased its holdings in Bausch Health Cos by 61.7% in the first quarter. Amundi now owns 23,983 shares of the company's stock valued at $130,000 after purchasing an additional 9,148 shares during the period. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Cos Company Profile

Bausch Health Companies Inc NYSE: BHC is a multinational specialty pharmaceutical company focused on developing, manufacturing and commercializing branded, generic and over-the-counter medicines. Its portfolio serves several therapeutic areas, including gastroenterology, dermatology, neurology, ophthalmology, hospital products and other specialty-care markets.

The company markets products through businesses such as Salix Pharmaceuticals, Ortho Dermatologics, Solta Medical and its international pharmaceutical operations.

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