BofA Securities slashes price target on Bausch Health Companies Inc. [BHC] – find out why.

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Bausch Health Companies Inc. [NYSE: BHC] loss -1.01% or -0.19 points to close at $18.66 with a heavy trading volume of 8655193 shares. The company report on May 3, 2022 that Bausch + Lomb Presents Data from Second Pivotal Phase 3 Trial of Investigational Treatment NOV03 (Perfluorohexyloctane) at the Association for Research in Vision and Ophthalmology Annual Meeting.

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NOV03 Met Primary Endpoints for Signs and Symptoms of Dry Eye Disease Associated with Meibomian Gland Dysfunction in Both Phase 3 Trials.

Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (NYSE/TSX: BHC) (“Bausch Health”) and Novaliq GmbH, a biopharmaceutical company focusing on first- and best-in-class ocular therapeutics, today announced that data from the second pivotal Phase 3 trial (MOJAVE) of investigational treatment NOV03 (perfluorohexyloctane) were presented virtually yesterday at the Association for Research in Vision and Ophthalmology (ARVO) annual meeting. NOV03 is being investigated as a first-in-class treatment with a novel mechanism of action to treat the signs and symptoms of dry eye disease (DED) associated with Meibomian gland dysfunction (MGD).

It opened the trading session at $18.80, the shares rose to $19.0442 and dropped to $18.31, the range by which the price of stock traded the whole day. The daily chart for BHC points out that the company has recorded -34.60% loss over the past six months. However, it is still -2.53% lower than its most recent low trading price.

If we look at the average trading volume of 3.85M shares, BHC reached to a volume of 8655193 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Bausch Health Companies Inc. [BHC]:

BofA Securities have made an estimate for Bausch Health Companies Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on March 24, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $26 to $42. The new note on the price target was released on February 17, 2021, representing the official price target for Bausch Health Companies Inc. stock. Previously, the target price had yet another raise from $25 to $30, while Piper Sandler kept a Neutral rating on BHC stock.

The Average True Range (ATR) for Bausch Health Companies Inc. is set at 0.96, with the Price to Sales ratio for BHC stock in the period of the last 12 months amounting to 0.81. Price to Free Cash Flow for BHC in the course of the last twelve months was 5.94 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for BHC stock

Bausch Health Companies Inc. [BHC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.20. With this latest performance, BHC shares dropped by -19.01% in over the last four-week period, additionally sinking by -34.60% over the last 6 months – not to mention a drop of -33.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BHC stock in for the last two-week period is set at 26.51, with the RSI for the last a single of trading hit 19.93, and the three-weeks RSI is set at 31.13 for Bausch Health Companies Inc. [BHC]. The present Moving Average for the last 50 days of trading for this stock 22.51, while it was recorded at 19.36 for the last single week of trading, and 25.87 for the last 200 days.

Bausch Health Companies Inc. [BHC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Bausch Health Companies Inc. [BHC] shares currently have an operating margin of +18.69 and a Gross Margin at +55.31. Bausch Health Companies Inc.’s Net Margin is presently recorded at -11.24.

Return on Equity for this stock declined to -441.96, with Return on Assets sitting at -3.14.

Bausch Health Companies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.10.

Bausch Health Companies Inc. [BHC]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BHC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bausch Health Companies Inc. go to 8.70%.

An analysis of insider ownership at Bausch Health Companies Inc. [BHC]

There are presently around $4,978 million, or 66.80% of BHC stock, in the hands of institutional investors. The top three institutional holders of BHC stocks are: ICAHN CARL C with ownership of 34,721,118, which is approximately 1.794% of the company’s market cap and around 2.30% of the total institutional ownership; PAULSON & CO. INC., holding 25,839,035 shares of the stock with an approximate value of $487.07 million in BHC stocks shares; and NOMURA HOLDINGS INC, currently with $357.96 million in BHC stock with ownership of nearly 23.485% of the company’s market capitalization.

Positions in Bausch Health Companies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 180 institutional holders increased their position in Bausch Health Companies Inc. [NYSE:BHC] by around 29,206,589 shares. Additionally, 157 investors decreased positions by around 21,590,365 shares, while 88 investors held positions by with 213,275,621 shares. The mentioned changes placed institutional holdings at 264,072,575 shares, according to the latest SEC report filing. BHC stock had 78 new institutional investments in for a total of 12,899,772 shares, while 44 institutional investors sold positions of 4,975,716 shares during the same period.