Bausch Health Cos (NYSE:BHC) Shares Gap Down on Disappointing Earnings

Bausch Health Cos Inc. (NYSE:BHC)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $6.19, but opened at $5.71. Bausch Health Cos shares last traded at $5.9850, with a volume of 1,540,027 shares.

The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.13). Bausch Health Cos had a return on equity of 1,596.96% and a net margin of 1.53%.The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.71 billion.

Analyst Ratings Changes

Several brokerages recently commented on BHC. Raymond James Financial reaffirmed a “market perform” rating on shares of Bausch Health Cos in a research report on Monday, January 26th. Wall Street Zen lowered shares of Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. Weiss Ratings lowered shares of Bausch Health Cos from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday. Barclays initiated coverage on Bausch Health Cos in a research note on Monday, December 8th. They issued an “equal weight” rating and a $8.00 target price on the stock. Finally, Truist Financial upped their price target on shares of Bausch Health Cos from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, January 7th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bausch Health Cos has an average rating of “Reduce” and an average target price of $8.67.

Institutional Investors Weigh In On Bausch Health Cos

A number of large investors have recently bought and sold shares of the company. Caption Management LLC raised its holdings in shares of Bausch Health Cos by 101.1% during the 4th quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after buying an additional 405,789 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Bausch Health Cos by 12,589.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock valued at $34,000 after purchasing an additional 4,910 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Bausch Health Cos by 6,661.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock worth $35,000 after buying an additional 5,329 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Bausch Health Cos by 65.9% in the second quarter. Russell Investments Group Ltd. now owns 7,819 shares of the company’s stock valued at $51,000 after buying an additional 3,106 shares during the period. Finally, Camelot Portfolios LLC acquired a new position in Bausch Health Cos in the fourth quarter valued at approximately $59,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

Bausch Health Cos Trading Up 3.3%

The company has a current ratio of 1.30, a quick ratio of 0.97 and a debt-to-equity ratio of 57.48. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 14.58 and a beta of 0.42. The firm’s 50-day moving average price is $6.62 and its 200 day moving average price is $6.68.

Bausch Health Cos Company Profile

Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals International, is a global specialty pharmaceutical company headquartered in Laval, Quebec, Canada. The company operates through two primary segments: Ophthalmology, led by its Bausch + Lomb franchise, and Diversified Brands, which encompasses prescription dermatology, gastrointestinal, neurology and branded pharmaceutical products. Bausch Health develops, manufactures and markets a range of therapeutic and over-the-counter offerings designed to address conditions such as cataracts, dry eye, glaucoma, acne, rosacea, migraine and gastrointestinal disorders.

The Ophthalmology segment under the Bausch + Lomb name provides products for eye health, including prescription drops, contact lens care solutions, intraocular lenses, surgical instruments and diagnostic devices.