Zacks Research Comments on Bausch Health Companies Inc.’s Q2 2024 Earnings (NYSE:BHC)

Posted by Defense World Staff on Sep 7th, 2023

Bausch Health Companies Inc. (NYSE:BHC – Free Report) – Research analysts at Zacks Research lifted their Q2 2024 earnings per share (EPS) estimates for Bausch Health Companies in a research report issued on Monday, September 4th. Zacks Research analyst E. Bagri now forecasts that the company will earn $0.84 per share for the quarter, up from their previous forecast of $0.83. The consensus estimate for Bausch Health Companies’ current full-year earnings is $3.29 per share. Zacks Research also issued estimates for Bausch Health Companies’ FY2024 earnings at $3.58 EPS and Q1 2025 earnings at $0.88 EPS.

A number of other analysts also recently issued reports on the company. StockNews.com began coverage on Bausch Health Companies in a research report on Thursday, August 17th. They set a “hold” rating for the company. TD Cowen cut shares of Bausch Health Companies from an “outperform” rating to a “market perform” rating in a research report on Friday, June 16th. Jefferies Financial Group raised their price objective on shares of Bausch Health Companies from $7.00 to $9.50 in a research report on Monday, May 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Bausch Health Companies from $8.00 to $9.00 and gave the company a “sector perform” rating in a research report on Monday, July 24th.

Check Out Our Latest Stock Report on BHC

Bausch Health Companies Stock Up 0.1 %

BHC opened at $8.36 on Wednesday. The firm has a market capitalization of $3.02 billion, a P/E ratio of -16.38 and a beta of 0.98. The company has a debt-to-equity ratio of 74.20, a current ratio of 1.12 and a quick ratio of 0.81. The company has a fifty day moving average price of $8.66 and a 200-day moving average price of $8.02. Bausch Health Companies has a one year low of $5.57 and a one year high of $10.23.

Bausch Health Companies (NYSE:BHC – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.04 billion. Bausch Health Companies had a negative net margin of 2.23% and a positive return on equity of 411.18%.

Insider Activity

In other news, EVP Seana Carson sold 6,685 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $8.28, for a total value of $55,351.80. Following the completion of the sale, the executive vice president now owns 385,213 shares of the company’s stock, valued at approximately $3,189,563.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Bausch Health Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GTS Securities LLC bought a new stake in shares of Bausch Health Companies in the 2nd quarter valued at about $931,000. Rokos Capital Management LLP purchased a new position in shares of Bausch Health Companies in the second quarter worth $14,078,000. Clearline Capital LP increased its stake in shares of Bausch Health Companies by 28.5% in the second quarter. Clearline Capital LP now owns 1,167,343 shares of the company’s stock worth $9,339,000 after buying an additional 258,876 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Bausch Health Companies by 2.8% in the second quarter. Gamco Investors INC. ET AL now owns 1,415,945 shares of the company’s stock worth $11,328,000 after buying an additional 38,700 shares during the period. Finally, Redwood Investment Management LLC increased its stake in shares of Bausch Health Companies by 10.8% in the second quarter. Redwood Investment Management LLC now owns 497,502 shares of the company’s stock worth $3,769,000 after buying an additional 48,560 shares during the period. Institutional investors own 74.56% of the company’s stock.

Bausch Health Companies Company Profile

(Get Free Report)

Bausch Health Companies Inc operates as a diversified pharmaceutical company. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, and eye health. The company operates through five segments: Salix, International, Solta Medical, Diversified, and Bausch + Lomb.