Bausch Health Companies (TSE:BHC) Board of Directors Initiates Stock Repurchase Program

Bausch Health Companies (TSE:BHC) declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 28th, RTT News reports. The company plans to repurchase C$70 million in shares. This repurchase authorization allows the company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Bausch Health Companies Trading Down 7.6%

BHC opened at C$11.47 on Friday. The stock has a market capitalization of C$4.29 billion, a P/E ratio of -5.08, a P/E/G ratio of 0.21 and a beta of 0.82. Bausch Health Companies has a 12 month low of C$6.10 and a 12 month high of C$12.65. The firm’s fifty day simple moving average is C$8.75 and its 200 day simple moving average is C$7.95. The company has a current ratio of 1.56, a quick ratio of 0.58 and a debt-to-equity ratio of -1,559.86.

Bausch Health Companies (TSE:BHC) last announced its earnings results on Wednesday, October 28th. The company reported C$2.52 earnings per share for the quarter. The firm had revenue of C$4.19 billion during the quarter. Bausch Health Companies had a negative net margin of 7.43% and a positive return on equity of 57.67%. As a group, research analysts anticipate that Bausch Health Companies will post 5.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised Bausch Health Companies to a “hold” rating in a research note on Wednesday, July 22nd. Three research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Bausch Health Companies Company Profile

Bausch Health Companies Inc (NYSE:BHC)(TSX:BHC) is a global diversified pharmaceutical company enriching lives through our relentless drive to deliver better health care outcomes. We develop, manufacture and market a range of products primarily in gastroenterology, hepatology, neuroscience, dermatology, dentistry, aesthetics, international pharmaceuticals and eye health, through our controlling interest in Bausch + Lomb. Our ambition is to be a globally integrated healthcare company, trusted and valued by patients, HCPs, employees and investors.