Bausch Health Cos (NYSE:BHC) Price Target Lowered to $9.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Bausch Health's price target from $10 to $9 while maintaining a "sector perform" rating, with the $9 target implying roughly a 58% upside from the recent close.
• MarketBeat's analyst snapshot is negative: four analysts rate the stock Hold and one rates it Sell, giving an average rating of "Reduce" and a consensus price target of $8.00.
• Bausch Health reported quarterly EPS of $1.08 (missing estimates by $0.13) while revenue of $2.78 billion beat consensus, and shares were trading around $5.70 with a market cap near $2.13 billion.

Bausch Health Cos (NYSE:BHC - Get Free Report) had its target price decreased by investment analysts at Royal Bank Of Canada from $10.00 to $9.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 58.03% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. Raymond James Financial reissued a "market perform" rating on shares of Bausch Health Cos in a research note on Monday, January 26th. Weiss Ratings cut Bausch Health Cos from a "hold (c)" rating to a "sell (d+)" rating in a research note on Thursday, February 19th. Barclays reduced their price objective on Bausch Health Cos from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 25th. Truist Financial boosted their price objective on Bausch Health Cos from $7.00 to $8.00 and gave the stock a "hold" rating in a research note on Wednesday, January 7th. Finally, Wall Street Zen cut Bausch Health Cos from a "strong-buy" rating to a "buy" rating in a research note on Sunday, February 15th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Bausch Health Cos presently has an average rating of "Reduce" and a consensus price target of $8.00.

Bausch Health Cos Price Performance

Shares of NYSE:BHC traded up $0.07 during mid-day trading on Monday, reaching $5.70. The stock had a trading volume of 716,471 shares, compared to its average volume of 1,961,428. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 54.68. The company has a market cap of $2.13 billion, a P/E ratio of 13.58 and a beta of 0.40. Bausch Health Cos has a 1 year low of $4.41 and a 1 year high of $8.69. The business's 50 day moving average price is $5.53 and its 200 day moving average price is $6.21.

Bausch Health Cos (NYSE:BHC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.13). Bausch Health Cos had a return on equity of 875.00% and a net margin of 1.53%.The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.71 billion. Research analysts expect that Bausch Health Cos will post 4.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Leonteq Securities AG grew its stake in shares of Bausch Health Cos by 150.1% during the first quarter. Leonteq Securities AG now owns 49,951 shares of the company's stock valued at $270,000 after buying an additional 29,975 shares during the last quarter. MQS Management LLC bought a new position in shares of Bausch Health Cos during the first quarter valued at approximately $94,000. Pictet Asset Management Holding SA grew its stake in shares of Bausch Health Cos by 4.1% during the first quarter. Pictet Asset Management Holding SA now owns 54,169 shares of the company's stock valued at $292,000 after buying an additional 2,114 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Bausch Health Cos by 178.8% during the first quarter. Ritholtz Wealth Management now owns 222,459 shares of the company's stock valued at $1,201,000 after buying an additional 142,663 shares during the last quarter. Finally, Viewpoint Capital Management LLC bought a new position in shares of Bausch Health Cos during the first quarter valued at approximately $97,000. Institutional investors own 78.65% of the company's stock.

Bausch Health Cos Company Profile

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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