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

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

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings cut Bausch Health Cos from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday, May 4th. Zacks Research downgraded Bausch Health Cos from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th. Royal Bank Of Canada lowered their target price on Bausch Health Cos from $10.00 to $9.00 and set a "sector perform" rating on the stock in a report on Monday, April 27th. Finally, Jefferies Financial Group upgraded shares of Bausch Health Cos to a "hold" rating in a research report on Wednesday, July 22nd. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $8.00.

Bausch Health Cos Stock Up 14.4%

BHC stock opened at $6.90 on Friday. The company has a market cap of $2.58 billion, a P/E ratio of -2.33 and a beta of 0.42. Bausch Health Cos has a 52 week low of $4.33 and a 52 week high of $8.69. The company's 50-day moving average price is $4.99 and its 200 day moving average price is $5.47. The company has a current ratio of 1.32, a quick ratio of 0.97 and a debt-to-equity ratio of 54.68.

Bausch Health Cos (NYSE:BHC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating 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 1,389.97%. The company had revenue of $2.83 billion during the quarter, compared to analysts' expectations of $2.59 billion. On average, research analysts expect that Bausch Health Cos will post 4.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Frank D. Lee sold 24,456 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $5.43, for a total transaction of $132,796.08. Following the sale, the director owned 49,339 shares in the company, valued at approximately $267,910.77. This trade represents a 33.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 20.67% of the company's stock.

Institutional Trading of Bausch Health Cos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHC. Amundi increased its position in Bausch Health Cos by 61.7% during the first quarter. Amundi now owns 23,983 shares of the company's stock worth $130,000 after purchasing an additional 9,148 shares during the last quarter. Royal Bank of Canada increased its position in shares of Bausch Health Cos by 24.9% in the first quarter. Royal Bank of Canada now owns 11,363,498 shares of the company's stock worth $61,362,000 after acquiring an additional 2,262,894 shares in the last quarter. Whitebox Advisors LLC boosted its position in Bausch Health Cos by 3.7% during the 1st quarter. Whitebox Advisors LLC now owns 564,672 shares of the company's stock worth $3,049,000 after purchasing an additional 20,175 shares during the period. Lazard Asset Management LLC grew its stake in shares of Bausch Health Cos by 15.5% in the first quarter. Lazard Asset Management LLC now owns 53,139 shares of the company's stock valued at $287,000 after buying an additional 7,114 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Bausch Health Cos by 10.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,575,772 shares of the company's stock worth $8,509,000 after acquiring an additional 143,581 shares during the period. Hedge funds and other institutional investors own 78.65% of the company's stock.

About Bausch Health Cos

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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