Guggenheim Initiates Coverage on Bausch Health Companies (NYSE:BHC)

Guggenheim initiated coverage on shares of Bausch Health Companies (NYSE:BHC) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $30.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Jaffray Companies set a $29.00 price objective on shares of Bausch Health Companies and gave the stock a buy rating in a research report on Tuesday, June 11th. Zacks Investment Research raised shares of Bausch Health Companies from a hold rating to a buy rating and set a $27.00 price objective for the company in a research report on Tuesday, May 21st. ValuEngine raised shares of Bausch Health Companies from a strong sell rating to a sell rating in a research report on Monday, July 29th. Wells Fargo & Co reaffirmed a sell rating on shares of Bausch Health Companies in a research report on Monday, July 15th. Finally, Wolfe Research started coverage on shares of Bausch Health Companies in a research report on Friday, July 19th. They set an outperform rating and a $31.00 price objective for the company. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Bausch Health Companies presently has an average rating of Buy and a consensus target price of $29.68.

Shares of Bausch Health Companies stock opened at $23.24 on Thursday. The firm has a 50-day moving average of $22.33 and a 200-day moving average of $23.49. The stock has a market cap of $8.36 billion, a PE ratio of 5.78, a PEG ratio of 0.28 and a beta of 0.80. Bausch Health Companies has a 52-week low of $17.20 and a 52-week high of $28.45. The company has a debt-to-equity ratio of 8.94, a quick ratio of 0.92 and a current ratio of 1.21.

Bausch Health Companies (NYSE:BHC) last announced its earnings results on Tuesday, August 6th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.03). Bausch Health Companies had a negative net margin of 10.88% and a positive return on equity of 52.12%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm posted $0.93 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts predict that Bausch Health Companies will post 4.24 earnings per share for the current fiscal year.

In other news, insider Mark C. Mckenna sold 10,773 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $21.83, for a total value of $235,174.59. Following the completion of the transaction, the insider now owns 20,756 shares of the company’s stock, valued at $453,103.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christina Ackermann sold 3,968 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $24.81, for a total value of $98,446.08. The disclosure for this sale can be found here. Insiders sold 18,159 shares of company stock valued at $410,355 in the last three months. Company insiders own 11.87% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia increased its stake in shares of Bausch Health Companies by 3.4% in the second quarter. Bank of Nova Scotia now owns 1,340,332 shares of the company’s stock valued at $31,967,000 after buying an additional 44,362 shares during the period. Highstreet Asset Management Inc. acquired a new position in shares of Bausch Health Companies in the first quarter valued at approximately $354,000. Bank of Montreal Can increased its stake in shares of Bausch Health Companies by 43.7% in the second quarter. Bank of Montreal Can now owns 5,318,505 shares of the company’s stock valued at $134,133,000 after buying an additional 1,616,428 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Bausch Health Companies by 17.2% in the second quarter. Allianz Asset Management GmbH now owns 1,180,131 shares of the company’s stock valued at $29,839,000 after buying an additional 173,614 shares during the period. Finally, MUFG Securities EMEA plc increased its stake in shares of Bausch Health Companies by 72.0% in the second quarter. MUFG Securities EMEA plc now owns 1,486,700 shares of the company’s stock valued at $37,495,000 after buying an additional 622,200 shares during the period. 56.04% of the stock is owned by institutional investors.

Bausch Health Companies Company Profile

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.

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Analyst Recommendations for Bausch Health Companies (NYSE:BHC)

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