Nomura Securities Co., Ltd. recently announced the acquisition of new stake in Bausch Health Companies Inc. (NYSE:BHC). The institutional investor has increased its shareholding in the Healthcare company by 23.47% to 16.49 million shares with purchase of 3.13 million shares. This fresh investment now brings its stake to 4.56% valued currently at $107.18 million. In addition, GoldenTree Asset Management LP raised its holdings by 2.41 million to 16.49 million shares. And Franklin Advisers, Inc. has lifted its position by 214.16% or 10.76 million shares – to 15.79 million shares.
With over 6.41 million Bausch Health Companies Inc. (BHC) shares trading Monday and a closing price of $6.94 on the day, the dollar volume was approximately $44.47 million. The shares have shown a negative half year performance of -29.11% and its price on 11/21/22 lost nearly -8.32%. Currently, there are 362.50M common shares owned by the public and among those 345.54M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for BHC have a consensus price objective of $12.00. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $6.00. The average price target is 42.17% above its recent price level and a downside to the estimated low will see the stock lose -15.67% over that period. But an upside of 80.17% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
The top 3 mutual fund holders in Bausch Health Companies Inc. are Franklin Income Fund, Vanguard Total International Stoc, and Government Pension Fund – Global. Franklin Income Fund owns 15.0 million shares of the company’s stock, all valued at over $97.5 million. Vanguard Total International Stoc sold 17482.0 shares to see its total holdings shrink to 4.22 million shares valued at over $27.45 million and representing 1.17% of the shares outstanding. Government Pension Fund – Global sold -0.2 million shares to bring its total holdings to over 3.32 million shares at a value of $21.59 million. Government Pension Fund – Global now owns shares totaling to 0.92% of the shares outstanding.
Shares of Bausch Health Companies Inc. (NYSE: BHC) opened at $7.39, down -$0.18 from a prior closing price of $7.57. However, the script later moved the day high at 7.44, down -8.32%. The company’s stock has a 5-day price change of -2.80% and 31.94% over the past three months. BHC shares are trading -74.86% year to date (YTD), with the 12-month market performance down to -73.32% lower. It has a 12-month low price of $4.00 and touched a high of $28.35 over the same period. BHC has an average intraday trading volume of 6.71 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.67%, -1.25%, and -43.94% respectively.
Institutional ownership of Bausch Health Companies Inc. (NYSE: BHC) shares accounts for 66.80% of the company’s 362.50M shares outstanding. Mutual fund holders own 17.66%, while other institutional holders and individual stakeholders account for 51.82% and 13.59% respectively.
It has a market capitalization of $2.52B and a beta (3y monthly) value of 0.95. The stock’s trailing 12-month PE ratio is 9.94, while the earnings-per-share (ttm) stands at $0.70. The company has a PEG of 3.82 and a Quick Ratio of 0.80. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.24% over the week and 7.60% over the month.
Analysts forecast that Bausch Health Companies Inc. (BHC) will achieve an EPS of $1.26 for the current quarter, $1.58 for the next quarter and $5.69 for 2023. The lowest estimate earnings-per-share for the quarter is $0.98 while analysts give the company a high EPS estimate of $1.5. Comparatively, EPS for the current quarter was $1.47 a year ago. Earnings per share for the fiscal year are expected to decrease by -67.40%, and 19.38% over the next financial year. EPS should shrink at an annualized rate of 2.60% over the next five years, compared to 17.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Bausch Health Companies Inc. (BHC) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 7 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
RBC Capital Mkts coverage for the Bausch Health Companies Inc. (BHC) stock in a research note released on July 29, 2022 offered a Sector Perform rating with a price target of $5. JP Morgan was of a view on July 28, 2022 that the stock is Neutral, while JP Morgan gave the stock Overweight rating on June 13, 2022, issuing a price target of $12. BofA Securities on their part issued Underperform rating on March 24, 2021.