Bausch Health Cos (NYSE:BHC) Shares Gap Down on Disappointing Earnings

Key Points

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Bausch Health Cos Inc. (NYSE:BHC - Get Free Report) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $6.39, but opened at $5.77. Bausch Health Cos shares last traded at $5.94, with a volume of 1,350,447 shares trading hands.

The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.07). The firm had revenue of $2.57 billion for the quarter, compared to analysts' expectations of $2.47 billion. Bausch Health Cos had a negative return on equity of 852.36% and a net margin of 0.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Bausch Health Cos from $8.50 to $10.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Bausch Health Cos from a "hold" rating to a "buy" rating in a report on Saturday.

Insider Transactions at Bausch Health Cos

In other Bausch Health Cos news, Director John Paulson acquired 3,564,059 shares of the firm's stock in a transaction on Friday, June 13th. The stock was bought at an average cost of $5.94 per share, for a total transaction of $21,170,510.46. Following the completion of the purchase, the director directly owned 32,791,702 shares in the company, valued at $194,782,709.88. This represents a 12.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased 6,352,667 shares of company stock worth $35,870,767 in the last ninety days. 8.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Bausch Health Cos

Several institutional investors have recently bought and sold shares of the business. Cary Street Partners Financial LLC acquired a new position in shares of Bausch Health Cos during the first quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Bausch Health Cos during the first quarter worth $27,000. SBI Securities Co. Ltd. lifted its position in shares of Bausch Health Cos by 244.2% during the first quarter. SBI Securities Co. Ltd. now owns 4,230 shares of the company's stock worth $27,000 after purchasing an additional 3,001 shares in the last quarter. Wealthquest Corp acquired a new position in shares of Bausch Health Cos during the first quarter worth $58,000. Finally, Alpha Wealth Funds LLC acquired a new position in shares of Bausch Health Cos during the second quarter worth $65,000. 78.65% of the stock is currently owned by hedge funds and other institutional investors.

Bausch Health Cos Trading Up 1.1%

The business's 50-day moving average price is $6.00 and its 200 day moving average price is $6.07. The company has a debt-to-equity ratio of 141.90, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 22.21 and a beta of 0.41.

About Bausch Health Cos

Bausch Health Companies Inc operates as a diversified specialty pharmaceutical and medical device company in the United States and internationally. It develops, manufactures, and markets a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, over-the-counter (OTC) products, aesthetic medical devices, and eye health.