Bausch Health Cos (NYSE:BHC) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Bausch Health from “hold” to “strong buy,” although the broader analyst consensus remains “hold” with an $8.00 target price.
• Bausch Health exceeded quarterly expectations, reporting $1.26 in EPS versus the $0.96 estimate and revenue of $2.83 billion versus $2.59 billion expected.
• The stock opened at $5.80, with a $2.17 billion market capitalization; institutional investors own 78.65% of shares, while an insider sold 36,827 shares under a pre-arranged trading plan.

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

Other equities analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Bausch Health Cos from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Jefferies Financial Group upgraded shares of Bausch Health Cos to a "hold" rating in a research note on Wednesday, July 22nd. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $8.00.

Bausch Health Cos Stock Performance

NYSE BHC opened at $5.80 on Monday. The stock has a market cap of $2.17 billion, a PE ratio of -1.96 and a beta of 0.37. Bausch Health Cos has a twelve month low of $4.33 and a twelve month high of $8.00. The stock has a fifty day simple moving average of $5.95 and a 200-day simple moving average of $5.50. The company has a current ratio of 1.44, a quick ratio of 1.08 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.30. Bausch Health Cos had a negative net margin of 10.12% and a negative return on equity of 561.95%. The firm had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.59 billion. Equities analysts anticipate that Bausch Health Cos will post 4.35 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Aimee Lenar sold 36,827 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $7.03, for a total transaction of $258,893.81. Following the completion of the sale, the insider owned 334,853 shares in the company, valued at approximately $2,354,016.59. This represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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

Large investors have recently bought and sold shares of the company. Paulson & CO. Inc. acquired a new position in Bausch Health Cos during the 2nd quarter worth approximately $361,151,000. Royal Bank of Canada grew its stake in shares of Bausch Health Cos by 24.9% during the 1st quarter. Royal Bank of Canada now owns 11,363,498 shares of the company's stock worth $61,362,000 after purchasing an additional 2,262,894 shares during the period. MFN Partners Management LP purchased a new position in shares of Bausch Health Cos in the 2nd quarter valued at about $29,580,000. Norges Bank purchased a new stake in Bausch Health Cos during the fourth quarter worth about $25,592,000. Finally, Dimensional Fund Advisors LP increased its holdings in Bausch Health Cos by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,604,818 shares of the company's stock valued at $19,456,000 after buying an additional 350,823 shares in the last quarter. Hedge funds and other institutional investors own 78.65% of the company's stock.

Bausch Health Cos Company Profile

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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