Bausch Health Companies (NYSE:BHC) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Bausch Health Companies (NYSE:BHC) posted its earnings results on Tuesday. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03), Morningstar.com reports. Bausch Health Companies had a negative net margin of 19.27% and a positive return on equity of 47.01%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Bausch Health Companies updated its FY 2019 guidance to EPS.

Shares of Bausch Health Companies stock traded down $0.19 during trading hours on Wednesday, reaching $22.39. 4,907,950 shares of the company’s stock were exchanged, compared to its average volume of 3,966,516. Bausch Health Companies has a 1 year low of $17.20 and a 1 year high of $28.45. The stock has a market capitalization of $7.95 billion, a P/E ratio of 5.57, a P/E/G ratio of 0.54 and a beta of 0.76. The firm has a fifty day moving average price of $24.06. The company has a debt-to-equity ratio of 8.61, a current ratio of 1.08 and a quick ratio of 0.83.

In related news, EVP Christina Ackermann sold 3,968 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $24.81, for a total value of $98,446.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.87% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in BHC. FIL Ltd boosted its stake in Bausch Health Companies by 69.6% during the first quarter. FIL Ltd now owns 10,545,300 shares of the company’s stock worth $260,170,000 after buying an additional 4,327,851 shares during the period. Bank of Montreal Can boosted its stake in Bausch Health Companies by 28.2% during the first quarter. Bank of Montreal Can now owns 3,702,077 shares of the company’s stock worth $91,441,000 after buying an additional 815,311 shares during the period. Norges Bank purchased a new position in Bausch Health Companies during the fourth quarter worth about $59,054,000. Clearbridge Investments LLC boosted its stake in Bausch Health Companies by 0.5% during the first quarter. Clearbridge Investments LLC now owns 2,897,282 shares of the company’s stock worth $71,563,000 after buying an additional 14,610 shares during the period. Finally, Ardevora Asset Management LLP boosted its stake in Bausch Health Companies by 23.8% during the second quarter. Ardevora Asset Management LLP now owns 1,788,520 shares of the company’s stock worth $45,106,000 after buying an additional 343,900 shares during the period. 53.72% of the stock is owned by hedge funds and other institutional investors.

BHC has been the subject of several analyst reports. Wolfe Research initiated coverage on shares of Bausch Health Companies in a research note on Friday, July 19th. They issued an “outperform” rating and a $31.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Bausch Health Companies from an “underweight” rating to a “neutral” rating and set a $24.80 target price for the company in a research note on Monday, May 13th. Wells Fargo & Co reiterated a “sell” rating on shares of Bausch Health Companies in a research note on Monday, July 15th. Zacks Investment Research upgraded shares of Bausch Health Companies from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, May 21st. Finally, Mizuho set a $45.00 price objective on shares of Bausch Health Companies and gave the stock a “buy” rating in a research report on Thursday, June 20th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.68.

Bausch Health Companies Company Profile

Bausch Health Companies Inc develops, manufactures, and markets a range of pharmaceutical, medical device, and over-the-counter (OTC) products primarily in the therapeutic areas of eye health, gastroenterology, and dermatology. The company operates through four segments: Bausch + Lomb/International, Salix, Ortho Dermatologics, and Diversified Products.

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Earnings History for Bausch Health Companies (NYSE:BHC)

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