Bausch Health Companies (NYSE:BHC) Announces Earnings Results

Bausch Health Companies (NYSE:BHC) released its earnings results on Wednesday. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.09, Briefing.com reports. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.42 billion. Bausch Health Companies had a negative return on equity of 742.06% and a negative net margin of 5.12%. Bausch Health Companies’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Bausch Health Companies updated its FY 2024 guidance to EPS.

Bausch Health Companies Stock Up 11.3 %

Shares of BHC traded up $0.92 during trading hours on Thursday, hitting $9.09. The company had a trading volume of 6,115,540 shares, compared to its average volume of 2,933,141. Bausch Health Companies has a 52-week low of $3.96 and a 52-week high of $11.46. The stock’s 50 day moving average price is $7.41 and its 200 day moving average price is $7.05. The firm has a market cap of $3.28 billion, a P/E ratio of -7.31 and a beta of 0.77.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Jefferies Financial Group dropped their price objective on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Raymond James started coverage on shares of Bausch Health Companies in a report on Wednesday, July 10th. They set a “market perform” rating and a $8.00 target price on the stock. StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler lowered Bausch Health Companies from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $9.00 to $3.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.33.

Insider Activity at Bausch Health Companies

In other news, EVP Seana Carson sold 13,370 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $6.21, for a total value of $83,027.70. Following the transaction, the executive vice president now owns 435,198 shares in the company, valued at approximately $2,702,579.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.12% of the stock is currently owned by company insiders.

Bausch Health Companies Company Profile

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.