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

Bausch Health Companies (NYSE:BHC) announced its quarterly earnings results 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 analysts’ expectations of $2.42 billion. Bausch Health Companies had a negative return on equity of 850.93% and a negative net margin of 1.88%. Bausch Health Companies’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. Bausch Health Companies updated its FY 2024 guidance to EPS.

Bausch Health Companies Stock Performance

Bausch Health Companies stock traded up $0.58 during midday trading on Friday, reaching $9.78. The stock had a trading volume of 3,457,099 shares, compared to its average volume of 2,943,669. Bausch Health Companies has a 1-year low of $3.96 and a 1-year high of $11.46. The firm’s fifty day simple moving average is $7.55 and its 200-day simple moving average is $7.07. The stock has a market capitalization of $3.59 billion, a P/E ratio of -20.38 and a beta of 0.77.

Analyst Ratings Changes

BHC has been the subject of several recent analyst reports. Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th. Scotiabank dropped their price objective on Bausch Health Companies from $10.00 to $8.50 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Truist Financial decreased their target price on Bausch Health Companies from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Royal Bank of Canada raised their price target on Bausch Health Companies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Jefferies Financial Group decreased their price objective on Bausch Health Companies from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.75.

Insider Transactions at Bausch Health Companies

In related news, EVP Seana Carson sold 13,370 shares of the stock in a transaction on Friday, September 6th. The shares were 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 owns 435,198 shares in the company, valued at approximately $2,702,579.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.12% of the company’s stock.

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.