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

Bausch Health Cos (NYSE:BHC) announced its earnings results on Wednesday. The company reported $1.08 EPS 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 Price Performance

NYSE BHC traded up $0.22 during trading hours on Wednesday, reaching $6.21. 2,779,723 shares of the stock traded hands, compared to its average volume of 2,155,968. The stock has a 50 day simple moving average of $6.67 and a two-hundred day simple moving average of $6.69. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 6.40 and a beta of 0.42. Bausch Health Cos has a 1 year low of $4.25 and a 1 year high of $8.69. The company has a debt-to-equity ratio of 57.48, a current ratio of 1.30 and a quick ratio of 0.97.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Caption Management LLC lifted its holdings in Bausch Health Cos by 101.1% in the fourth quarter. Caption Management LLC now owns 4,464 shares of the company’s stock worth $31,000 after buying an additional 405,789 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of Bausch Health Cos by 12,589.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,949 shares of the company’s stock worth $34,000 after purchasing an additional 4,910 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Bausch Health Cos by 6,661.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 5,409 shares of the company’s stock valued at $35,000 after acquiring an additional 5,329 shares during the period. Russell Investments Group Ltd. boosted its holdings 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 worth $51,000 after purchasing an additional 3,106 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Bausch Health Cos in the first quarter worth $68,000. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BHC shares. Barclays assumed coverage on shares of Bausch Health Cos in a report on Monday, December 8th. They set an “equal weight” rating and a $8.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Bausch Health Cos in a report on Monday, December 29th. Wall Street Zen downgraded Bausch Health Cos from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Raymond James Financial restated a “market perform” rating on shares of Bausch Health Cos in a report on Monday, January 26th. Finally, Truist Financial raised their price objective on Bausch Health Cos from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, January 7th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Bausch Health Cos presently has a consensus rating of “Hold” and an average target price of $8.67.

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.