After Mizuho Securities and H.C. Wainwright gave Bausch Health Companies Inc (NYSE: BHC) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Louise Chen maintained a Buy rating on Bausch Health Companies Inc today and set a price target of $32. The company’s shares closed on Friday at $23.44.
Chen noted:
“We rate BHC as 12-month price target of $32. We think a greater appreciation for BHC’s solid execution and future growth prospects under the new management team should drive upwards earnings revisions in 2019+, multiple expansion, and BHC shares higher. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $32.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 8.5% and a 38.3% success rate. Chen covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
Bausch Health Companies Inc has an analyst consensus of Moderate Buy, with a price target consensus of $33, implying a 40.8% upside from current levels. In a report issued on April 26, Jefferies also maintained a Buy rating on the stock with a $31 price target.
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The company has a one-year high of $28.45 and a one-year low of $17.20. Currently, Bausch Health Companies Inc has an average volume of 3.98M.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BHC in relation to earlier this year.
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Bausch Health Cos., Inc. engages in the development, manufacture, and market of a range of branded, generic and branded generic pharmaceuticals, medical devices and over-the-counter products. It operates through the following segments: The Bausch + Lomb/International, Salix, Ortho Dermatologics and Diversified Products.
