Bausch Health Companies (NYSE:BHC) Shares Gap Down to $6.10

Bausch Health Companies Inc. (NYSE:BHC)’s share price gapped down prior to trading on Friday . The stock had previously closed at $6.10, but opened at $5.40. Bausch Health Companies shares last traded at $5.55, with a volume of 281,222 shares traded.

Analysts Set New Price Targets

BHC has been the subject of several recent analyst reports. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Raymond James began coverage on shares of Bausch Health Companies in a report on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 price target on the stock. Royal Bank of Canada dropped their price objective on Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 23rd. Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $9.00 to $3.00 in a research note on Friday. Finally, Truist Financial lowered their price target on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Bausch Health Companies has a consensus rating of “Hold” and a consensus target price of $8.60.

Bausch Health Companies Stock Down 5.9 %

The stock has a 50-day simple moving average of $6.70 and a two-hundred day simple moving average of $7.96. The firm has a market cap of $2.07 billion, a PE ratio of -4.26 and a beta of 0.77.

Bausch Health Companies (NYSE:BHC) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. During the same period last year, the firm posted $0.81 EPS. Research analysts expect that Bausch Health Companies Inc. will post 3.6 earnings per share for the current year.

Institutional Investors Weigh In On Bausch Health Companies

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Bausch Health Companies by 1.6% in the third quarter. Vanguard Group Inc. now owns 11,487,768 shares of the company’s stock worth $94,429,000 after purchasing an additional 175,489 shares during the last quarter. SG Americas Securities LLC bought a new position in Bausch Health Companies during the 4th quarter worth approximately $555,000. International Assets Investment Management LLC purchased a new position in Bausch Health Companies in the 4th quarter worth approximately $185,000. Mackenzie Financial Corp lifted its position in Bausch Health Companies by 26.9% in the fourth quarter. Mackenzie Financial Corp now owns 1,562,694 shares of the company’s stock valued at $12,543,000 after purchasing an additional 331,462 shares during the last quarter. Finally, Duality Advisers LP boosted its stake in shares of Bausch Health Companies by 20.4% during the fourth quarter. Duality Advisers LP now owns 88,449 shares of the company’s stock valued at $709,000 after purchasing an additional 15,001 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Bausch Health Companies 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.