Bausch Health Companies (TSE:BHC) Stock Price Up 8.4% After Better-Than-Expected Earnings

Bausch Health Companies Inc. (TSE:BHC) shares shot up 8.4% on Thursday after the company announced better than expected quarterly earnings. The company traded as high as C$12.37 and last traded at C$12.33. 36,968 shares changed hands during trading, a decline of 90% from the average session volume of 370,617 shares. The stock had previously closed at C$11.37.

The company reported C$1.53 EPS for the quarter, beating the consensus estimate of C$1.43 by C$0.10. Bausch Health Companies had a negative return on equity of 2,304.54% and a negative net margin of 5.12%. The firm had revenue of C$3.42 billion during the quarter, compared to analyst estimates of C$3.36 billion.

Analysts Set New Price Targets

Several brokerages have weighed in on BHC. Raymond James raised Bausch Health Companies to a “hold” rating in a report on Wednesday, July 10th. Evercore ISI upgraded shares of Bausch Health Companies to a “hold” rating in a research note on Tuesday, October 15th.

Insider Activity

In other news, Senior Officer Seana Lynne Carson sold 13,370 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of C$8.38, for a total value of C$112,087.40. Corporate insiders own 11.28% of the company’s stock.

Bausch Health Companies Price Performance

The firm has a 50-day simple moving average of C$9.82 and a two-hundred day simple moving average of C$9.87. The company has a market capitalization of C$4.70 billion, a price-to-earnings ratio of -7.09, a P/E/G ratio of 0.21 and a beta of 0.77. The company has a current ratio of 1.19, a quick ratio of 0.58 and a debt-to-equity ratio of 7,583.76.

About Bausch Health Companies

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.