In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Bausch Health Companies Inc (BHC – Research Report), with a price target of $58. The company’s shares closed on Friday at $24.77.
“Valuation methodology, risks, and uncertainties. We employ a cash EPS multiple-based approach. The cash EPS number is derived from our adjusted 12-month income, which takes the GAAP net loss of ~$2.08B and adds back $400M in asset impairment-related charges, $189M in tax-related expenses, and $2.94B in amortization-related charges. This yields total adjusted (non-GAAP) income of roughly $1.5B, which we divide by approximately 360M shares outstanding to derive our 12-month cash EPS of $5.51 per share.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 0.9% and a 38.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Fennec Pharmaceuticals Inc.
Currently, the analyst consensus on Bausch Health Companies Inc is a Moderate Buy with an average price target of $33.29, representing a 34.4% upside. In a report issued on April 2, Piper Jaffray also reiterated a Buy rating on the stock with a $28 price target.
The company has a one-year high of $28.45 and a one-year low of $16.76. Currently, Bausch Health Companies Inc has an average volume of 3.95M.
Based on the recent corporate insider activity of 34 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.