Bausch Health Cos (NYSE:BHC) Upgraded at Wall Street Zen

Key Points

• Bausch Health Cos has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, signaling a positive outlook for investors.
• The company's target price was raised by Royal Bank of Canada from $8.50 to $10.00, reflecting increased confidence among analysts.
• Insider trading activity showed significant buying, with Director John Paulson acquiring over 3.5 million shares, a move indicating strong belief in the company's potential.

Bausch Health Cos (NYSE:BHC - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Royal Bank Of Canada lifted their target price on shares of Bausch Health Cos from $8.50 to $10.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd.

Bausch Health Cos Stock Performance

NYSE:BHC traded up $0.16 during mid-day trading on Friday, reaching $5.94. The stock had a trading volume of 1,190,070 shares, compared to its average volume of 2,398,193. The company has a debt-to-equity ratio of 141.90, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 22.87 and a beta of 0.41. Bausch Health Cos has a twelve month low of $4.25 and a twelve month high of $9.85. The business has a 50 day simple moving average of $6.00 and a 200 day simple moving average of $6.07.

Bausch Health Cos (NYSE:BHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.07). Bausch Health Cos had a negative return on equity of 852.36% and a net margin of 0.99%. The business had revenue of $2.57 billion for the quarter, compared to analysts' expectations of $2.47 billion. On average, analysts expect that Bausch Health Cos will post 4.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John Paulson purchased 3,564,059 shares of the business's stock in a transaction dated Friday, June 13th. The shares were acquired at an average price of $5.94 per share, for a total transaction of $21,170,510.46. Following the completion of the acquisition, the director directly owned 32,791,702 shares of the company's stock, valued at $194,782,709.88. The trade was a 12.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 6,352,667 shares of company stock worth $35,870,767 over the last ninety days. 8.12% of the stock is owned by corporate insiders.

Institutional Trading of Bausch Health Cos

Several large investors have recently modified their holdings of BHC. JPMorgan Chase & Co. increased its position in Bausch Health Cos by 1,246.0% in the 4th quarter. JPMorgan Chase & Co. now owns 19,840 shares of the company's stock valued at $160,000 after acquiring an additional 18,366 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Bausch Health Cos by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,684,859 shares of the company's stock valued at $94,460,000 after purchasing an additional 145,078 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Bausch Health Cos in the fourth quarter valued at approximately $180,000. Two Sigma Investments LP raised its position in Bausch Health Cos by 688.2% during the fourth quarter. Two Sigma Investments LP now owns 265,461 shares of the company's stock worth $2,140,000 after acquiring an additional 231,781 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Bausch Health Cos in the fourth quarter valued at about $468,000. 78.65% of the stock is owned by institutional investors.

Bausch Health Cos Company Profile

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.