Bausch Health Companies (TSE:BHC) Announces Quarterly Earnings Results

Bausch Health Companies (TSE:BHC) announced its quarterly earnings results on Wednesday. The company reported C$2.52 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$4.19 billion during the quarter. Bausch Health Companies had a positive return on equity of 57.67% and a negative net margin of 7.43%.

Bausch Health Companies Trading Up 28.3%

Shares of BHC opened at C$12.41 on Friday. The business’s fifty day moving average is C$8.71 and its 200-day moving average is C$7.94. The firm has a market cap of C$4.64 billion, a price-to-earnings ratio of -4.22, a PEG ratio of 0.21 and a beta of 0.82. Bausch Health Companies has a 52-week low of C$6.10 and a 52-week high of C$12.65. The company has a debt-to-equity ratio of -1,559.86, a quick ratio of 0.58 and a current ratio of 1.56.

Bausch Health Companies declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 28th that permits the company to repurchase C$70 million in shares. This buyback authorization permits the company to buy up to 1.9% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

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

About Bausch Health Companies

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.