Bausch Health Companies (NYSE:BHC) Issues Quarterly Earnings Results

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

Bausch Health Companies Stock Performance

Shares of NYSE:BHC traded up $0.99 during midday trading on Thursday, hitting $9.16. The company’s stock had a trading volume of 5,673,868 shares, compared to its average volume of 2,930,887. The stock’s 50 day simple moving average is $7.41 and its 200 day simple moving average is $7.05. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -7.31 and a beta of 0.77. Bausch Health Companies has a fifty-two week low of $3.96 and a fifty-two week high of $11.46.

Insider Buying and Selling

In other news, EVP Seana Carson sold 13,370 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $6.21, for a total transaction of $83,027.70. Following the completion of the transaction, the executive vice president now directly owns 435,198 shares in the company, valued at $2,702,579.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BHC has been the topic of a number of recent research reports. Raymond James initiated coverage on Bausch Health Companies in a research note on Wednesday, July 10th. They issued a “market perform” rating and a $8.00 target price on the stock. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Jefferies Financial Group reduced their target price on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Piper Sandler lowered shares of Bausch Health Companies from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $9.00 to $3.00 in a research note on Friday, August 2nd. Finally, StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.33.

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.