Bausch Health Companies (NYSE:BHC) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Bausch Health Companies (NYSE:BHC) released its quarterly earnings data 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 return on equity of 742.06% and a negative net margin of 5.12%. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. Bausch Health Companies updated its FY 2024 guidance to EPS.

Bausch Health Companies Price Performance

Shares of BHC traded up $0.99 during midday trading on Thursday, reaching $9.16. The stock had a trading volume of 5,673,868 shares, compared to its average volume of 2,930,887. The firm’s 50 day moving average price is $7.41 and its 200-day moving average price is $7.05. Bausch Health Companies has a 52 week low of $3.96 and a 52 week high of $11.46. The company has a market capitalization of $3.31 billion, a P/E ratio of -7.31 and a beta of 0.77.

Wall Street Analyst Weigh In

BHC has been the subject of several recent research reports. Royal Bank of Canada lowered their price target on shares of Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Jefferies Financial Group dropped their price target on shares of Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Truist Financial cut their price target on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Evercore ISI upgraded Bausch Health Companies to a “hold” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised Bausch Health Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.33.

Insider Buying and Selling

In related news, EVP Seana Carson sold 13,370 shares of the business’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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.12% of the stock is owned by corporate 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.