StockNews.com Upgrades Bausch Health Companies (NYSE:BHC) to "Buy"

StockNews.com upgraded shares of Bausch Health Companies (NYSE:BHC - Free Report) from a hold rating to a buy rating in a report released on Thursday.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Bausch Health Companies from $9.00 to $8.50 and set a "sector perform" rating on the stock in a research note on Monday, April 7th. Jefferies Financial Group reiterated a "hold" rating and issued a $8.00 price objective (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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $7.42.

Bausch Health Companies Price Performance

Shares of Bausch Health Companies stock traded down $0.17 during trading hours on Thursday, reaching $4.76. The company had a trading volume of 2,078,873 shares, compared to its average volume of 2,669,096. The firm has a market cap of $1.76 billion, a PE ratio of -39.66, a price-to-earnings-growth ratio of 0.37 and a beta of 0.34. Bausch Health Companies has a one year low of $3.96 and a one year high of $9.85. The business has a fifty day simple moving average of $5.94 and a 200 day simple moving average of $7.17.

Bausch Health Companies (NYSE:BHC - Get Free Report) last issued its earnings results 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 return on equity of 577.82% and a negative net margin of 0.48%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.51 billion. On average, research analysts forecast that Bausch Health Companies will post 4.41 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHC. Vanguard Group Inc. lifted its stake in Bausch Health Companies by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company's stock worth $94,460,000 after purchasing an additional 145,078 shares during the last quarter. Franklin Resources Inc. lifted its position in Bausch Health Companies by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 5,316,822 shares of the company's stock worth $42,855,000 after buying an additional 56,446 shares during the last quarter. Maple Rock Capital Partners Inc. boosted its stake in Bausch Health Companies by 156.7% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 5,300,000 shares of the company's stock worth $42,718,000 after buying an additional 3,235,100 shares in the last quarter. Arrowstreet Capital Limited Partnership grew 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 valued at $38,501,000 after acquiring an additional 1,510,445 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Bausch Health Companies by 62.0% during the fourth quarter. SG Americas Securities LLC now owns 3,301,981 shares of the company's stock worth $26,614,000 after acquiring an additional 1,263,706 shares in the last quarter. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch Health Companies

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.