Bausch Health Cos (NYSE:BHC) Upgraded by Wall Street Zen to Buy Rating

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 equities research analysts at 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 increased 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 research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Bausch Health Cos has a consensus rating of "Hold" and a consensus target price of $7.38.

Bausch Health Cos Trading Down 3.1%

BHC stock opened at $5.71 on Friday. The stock has a market cap of $2.11 billion, a P/E ratio of 21.96 and a beta of 0.41. The stock's fifty day simple moving average is $5.98 and its two-hundred day simple moving average is $6.10. Bausch Health Cos has a 1-year low of $4.25 and a 1-year high of $9.85.

Bausch Health Cos (NYSE:BHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.07). The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.47 billion. Bausch Health Cos had a negative return on equity of 522.39% and a net margin of 0.99%. As a group, analysts forecast that Bausch Health Cos will post 4.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bausch Health Cos news, Director John Paulson purchased 3,564,059 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were bought at an average cost of $5.94 per share, for a total transaction of $21,170,510.46. Following the purchase, the director owned 32,791,702 shares of the company's stock, valued at $194,782,709.88. This represents a 12.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 6,352,667 shares of company stock worth $35,870,767 over the last quarter. 8.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bausch Health Cos

A number of large investors have recently made changes to their positions in BHC. Raymond James Financial Inc. bought a new position in Bausch Health Cos in the 4th quarter worth about $180,000. American Century Companies Inc. lifted its holdings in shares of Bausch Health Cos by 10.6% in the fourth quarter. American Century Companies Inc. now owns 27,236 shares of the company's stock worth $220,000 after buying an additional 2,600 shares in the last quarter. Vanguard Group Inc. boosted its position 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 acquiring an additional 145,078 shares during the period. JPMorgan Chase & Co. grew its stake in Bausch Health Cos by 1,246.0% during the fourth 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. Finally, Norges Bank bought a new stake in Bausch Health Cos during the 4th quarter worth approximately $141,000. 78.65% of the stock is owned by institutional investors.

About Bausch Health Cos

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.

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