Bausch Health Cos (NYSE:BHC) Releases Earnings Results, Misses Expectations By $0.14 EPS

Bausch Health Cos (NYSE:BHC) issued its earnings results on Wednesday. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14), Zacks reports. Bausch Health Cos had a negative return on equity of 9,620.34% and a net margin of 3.61%.

Bausch Health Cos Stock Up 3.6%

NYSE:BHC traded up $0.22 during trading hours on Wednesday, hitting $6.21. 2,779,723 shares of the stock traded hands, compared to its average volume of 2,155,968. Bausch Health Cos has a fifty-two week low of $4.25 and a fifty-two week high of $8.69. 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 firm has a market cap of $2.30 billion, a price-to-earnings ratio of 6.40 and a beta of 0.42. The firm has a 50 day moving average price of $6.67 and a 200 day moving average price of $6.69.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen downgraded Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a report on Sunday. Truist Financial increased their target price 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Bausch Health Cos in a report on Monday, December 29th. Barclays began coverage on shares of Bausch Health Cos in a research note on Monday, December 8th. They set an “equal weight” rating and a $8.00 price objective on the stock. Finally, Raymond James Financial restated a “market perform” rating on shares of Bausch Health Cos in a research note on Monday, January 26th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Bausch Health Cos during the first quarter valued at approximately $68,000. Jones Financial Companies Lllp grew its position in shares of Bausch Health Cos by 1,548.9% during the 1st quarter. Jones Financial Companies Lllp now owns 24,965 shares of the company’s stock worth $162,000 after buying an additional 23,451 shares during the period. Goldman Sachs Group Inc. raised its holdings in Bausch Health Cos by 97.1% in the first quarter. Goldman Sachs Group Inc. now owns 948,322 shares of the company’s stock worth $6,136,000 after purchasing an additional 467,270 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Bausch Health Cos by 3.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 324,847 shares of the company’s stock worth $2,102,000 after buying an additional 9,834 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Bausch Health Cos by 11.2% in the second quarter. Geode Capital Management LLC now owns 840,418 shares of the company’s stock valued at $5,597,000 after buying an additional 84,892 shares in the last quarter. Institutional investors and hedge funds own 78.65% of the company’s stock.

About Bausch Health Cos

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.