Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Bausch Health Companies Inc (BHC) today and set a price target of $32. The company’s shares opened today at $24.14.
Chen noted:
“. We have updated our BHC model for the way the company reports its business segments. This does not change any of our numbers, and it does not impact our positive investment thesis. Therefore, we reiterate our OW rating and 12-mo. PT of $32 for BHC shares. We think a greater appreciation for BHC’s solid execution and future growth prospects should drive upwards earnings revisions as well as multiple expansion in 2019+.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 14.1% and a 41.9% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aridis Pharmaceuticals Inc, Amneal Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Currently, the analyst consensus on Bausch Health Companies Inc is a Strong Buy with an average price target of $35, implying a 45.0% upside from current levels. In a report issued on February 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $58 price target.
See today’s analyst top recommended stocks >>
Based on the recent corporate insider activity of 30 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
