Bausch Health Companies (NYSE:BHC) Trading 7.7% Higher After Better-Than-Expected Earnings

Bausch Health Companies Inc. (NYSE:BHCGet Free Report)’s stock price shot up 7.7% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $9.45 and last traded at $9.34. 2,515,232 shares were traded during trading, an increase of 13% from the average session volume of 2,217,517 shares. The stock had previously closed at $8.67.

The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.14. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.29 billion. Bausch Health Companies had a negative net margin of 6.76% and a positive return on equity of 2,111.60%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BHC. StockNews.com raised shares of Bausch Health Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada raised their price target on shares of Bausch Health Companies from $8.00 to $9.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Jefferies Financial Group lowered their price target on shares of Bausch Health Companies from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday.

Read Our Latest Stock Report on BHC

Institutional Trading of Bausch Health Companies

A number of institutional investors have recently modified their holdings of BHC. Readystate Asset Management LP acquired a new stake in Bausch Health Companies in the 4th quarter worth approximately $2,933,000. Public Employees Retirement System of Ohio lifted its stake in Bausch Health Companies by 9.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 147,205 shares of the company’s stock valued at $1,187,000 after acquiring an additional 13,076 shares during the period. Legal & General Group Plc lifted its stake in Bausch Health Companies by 8.1% during the 4th quarter. Legal & General Group Plc now owns 320,413 shares of the company’s stock valued at $2,583,000 after acquiring an additional 24,034 shares during the period. Barclays PLC lifted its stake in Bausch Health Companies by 31.0% during the 4th quarter. Barclays PLC now owns 838,786 shares of the company’s stock valued at $6,727,000 after acquiring an additional 198,577 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Bausch Health Companies by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 11,599,131 shares of the company’s stock valued at $93,025,000 after acquiring an additional 111,363 shares during the period. 74.56% of the stock is currently owned by institutional investors.

Bausch Health Companies Stock Down 1.3 %

The company has a debt-to-equity ratio of 74.20, a quick ratio of 0.89 and a current ratio of 1.20. The firm’s 50 day simple moving average is $8.14 and its 200 day simple moving average is $7.85.

About Bausch Health Companies

(Get Free Report)

Bausch Health Companies Inc operates as a diversified pharmaceutical company. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, and eye health. The company operates through five segments: Salix, International, Solta Medical, Diversified, and Bausch + Lomb.

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