Bausch Health Companies Inc. (NYSE:BHC) Forecasted to Post Q2 2024 Earnings of $0.86 Per Share

Bausch Health Companies Inc. (NYSE:BHC) – Investment analysts at Zacks Research lowered their Q2 2024 EPS estimates for Bausch Health Companies in a research note issued on Thursday, May 23rd. Zacks Research analyst R. Department now forecasts that the company will earn $0.86 per share for the quarter, down from their previous forecast of $0.93. The consensus estimate for Bausch Health Companies’ current full-year earnings is $3.63 per share. Zacks Research also issued estimates for Bausch Health Companies’ Q3 2024 earnings at $1.02 EPS, FY2024 earnings at $3.57 EPS, Q1 2025 earnings at $0.82 EPS, Q4 2025 earnings at $1.30 EPS and FY2025 earnings at $4.16 EPS.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Bausch Health Companies from $12.00 to $11.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 23rd. StockNews.com upgraded Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Piper Sandler raised their price objective on shares of Bausch Health Companies from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Finally, Jefferies Financial Group reduced their price objective on Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.33.

Bausch Health Companies Stock Down 2.5 %

Bausch Health Companies stock opened at $6.20 on Monday. The stock has a market cap of $2.27 billion, a PE ratio of -5.00 and a beta of 0.90. Bausch Health Companies has a 12-month low of $6.17 and a 12-month high of $11.46. The business’s 50-day moving average price is $8.41 and its two-hundred day moving average price is $8.19.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Thursday, May 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.16). Bausch Health Companies had a negative return on equity of 2,370.91% and a negative net margin of 5.07%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.18 billion.

Institutional Trading of Bausch Health Companies

Hedge funds have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. purchased a new stake in shares of Bausch Health Companies during the 1st quarter worth approximately $32,000. CANADA LIFE ASSURANCE Co lifted its holdings in Bausch Health Companies by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 88,457 shares of the company’s stock valued at $933,000 after acquiring an additional 3,519 shares during the period. Principal Securities Inc. acquired a new stake in Bausch Health Companies in the 4th quarter valued at about $31,000. Blair William & Co. IL boosted its stake in shares of Bausch Health Companies by 5.0% during the first quarter. Blair William & Co. IL now owns 84,245 shares of the company’s stock valued at $894,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in Bausch Health Companies by 14.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 33,649 shares of the company’s stock valued at $357,000 after purchasing an additional 4,149 shares during the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

About Bausch Health Companies

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.