Zacks: Brokerages Anticipate Bausch Health Companies Inc (NYSE:BHC) Will Post Quarterly Sales of $2.16 Billion

Wall Street brokerages predict that Bausch Health Companies Inc (NYSE:BHC) will announce $2.16 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Bausch Health Companies’ earnings. The highest sales estimate is $2.20 billion and the lowest is $2.13 billion. Bausch Health Companies posted sales of $2.14 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 0.9%. The firm is scheduled to report its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Bausch Health Companies will report full-year sales of $8.50 billion for the current fiscal year, with estimates ranging from $8.38 billion to $8.55 billion. For the next year, analysts anticipate that the firm will report sales of $8.78 billion, with estimates ranging from $8.47 billion to $9.30 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Bausch Health Companies.

Bausch Health Companies (NYSE:BHC) last posted its earnings results on Tuesday, August 6th. The company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.03). The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. Bausch Health Companies had a negative net margin of 10.88% and a positive return on equity of 52.12%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share.

A number of brokerages recently issued reports on BHC. Wolfe Research began coverage on Bausch Health Companies in a report on Friday, July 19th. They issued an “outperform” rating and a $31.00 price objective for the company. Barclays set a $28.00 price objective on Bausch Health Companies and gave the stock a “buy” rating in a report on Monday, July 8th. Mizuho set a $45.00 price objective on Bausch Health Companies and gave the stock a “buy” rating in a report on Thursday, June 20th. ValuEngine raised Bausch Health Companies from a “strong sell” rating to a “sell” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised Bausch Health Companies from an “underweight” rating to a “neutral” rating and set a $24.80 price objective for the company in a report on Monday, May 13th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $29.68.

In other Bausch Health Companies news, EVP Christina Ackermann sold 3,968 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $24.81, for a total transaction of $98,446.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 11.87% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Highstreet Asset Management Inc. bought a new position in Bausch Health Companies during the 1st quarter valued at $354,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Bausch Health Companies by 1.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 193,792 shares of the company’s stock valued at $4,783,000 after acquiring an additional 2,223 shares during the last quarter. CLARET ASSET MANAGEMENT Corp lifted its position in shares of Bausch Health Companies by 9.2% during the 1st quarter. CLARET ASSET MANAGEMENT Corp now owns 14,751 shares of the company’s stock valued at $364,000 after acquiring an additional 1,245 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Bausch Health Companies by 28.2% during the 1st quarter. Bank of Montreal Can now owns 3,702,077 shares of the company’s stock valued at $91,441,000 after acquiring an additional 815,311 shares during the last quarter. Finally, Academy Capital Management Inc. TX lifted its position in shares of Bausch Health Companies by 3.9% during the 1st quarter. Academy Capital Management Inc. TX now owns 580,218 shares of the company’s stock valued at $14,331,000 after acquiring an additional 21,641 shares during the last quarter. 57.35% of the stock is owned by hedge funds and other institutional investors.

BHC stock traded up $0.53 on Monday, reaching $21.83. The company’s stock had a trading volume of 1,981,617 shares, compared to its average volume of 3,904,208. Bausch Health Companies has a 52 week low of $17.20 and a 52 week high of $28.45. The company has a market capitalization of $7.50 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.25 and a beta of 0.76. The firm has a fifty day moving average of $23.49 and a two-hundred day moving average of $23.86. The company has a debt-to-equity ratio of 8.94, a current ratio of 1.21 and a quick ratio of 0.92.

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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