Bausch Health Companies (NYSE:BHC) Issues Earnings Results

Bausch Health Companies (NYSE:BHC) announced its quarterly earnings data on Wednesday. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09, Briefing.com reports. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.42 billion. Bausch Health Companies had a negative net margin of 1.88% and a negative return on equity of 850.93%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. Bausch Health Companies updated its FY 2024 guidance to EPS.

Bausch Health Companies Stock Up 6.3 %

Shares of BHC traded up $0.58 during midday trading on Friday, reaching $9.78. 3,457,099 shares of the stock were exchanged, compared to its average volume of 2,943,669. Bausch Health Companies has a twelve month low of $3.96 and a twelve month high of $11.46. The company has a market cap of $3.59 billion, a P/E ratio of -20.38 and a beta of 0.77. The stock’s 50 day simple moving average is $7.55 and its 200 day simple moving average is $7.07.

Insiders Place Their Bets

In related news, EVP Seana Carson sold 13,370 shares of the 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 sale, the executive vice president now owns 435,198 shares of the company’s stock, valued at $2,702,579.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.12% of the company’s stock.

Analyst Upgrades and Downgrades

BHC has been the subject of a number of research analyst reports. Truist Financial reduced their price target on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Evercore ISI raised Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Piper Sandler downgraded Bausch Health Companies from a “neutral” rating to an “underweight” rating and cut their price target for the company from $9.00 to $3.00 in a report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on shares of Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report 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 MarketBeat, Bausch Health Companies currently has an average rating of “Hold” and an average target price of $7.75.

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.