Bausch Health Companies (TSE:BHC) Trading Up 8.4% Following Earnings Beat

Shares of Bausch Health Companies Inc. (TSE:BHC) rose 8.4% on Thursday following a better than expected earnings announcement. The company traded as high as C$12.37 and last traded at C$12.33. Approximately 36,968 shares were traded during trading, a decline of 90% from the average daily volume of 370,617 shares. The stock had previously closed at C$11.37.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BHC. Evercore ISI raised shares of Bausch Health Companies to a “hold” rating in a report on Tuesday, October 15th. Raymond James upgraded Bausch Health Companies to a “hold” rating in a report on Wednesday, July 10th.

Insiders Place Their Bets

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

Bausch Health Companies Stock Up 12.7 %

The company has a quick ratio of 0.58, a current ratio of 1.19 and a debt-to-equity ratio of 7,583.76. The company has a market cap of C$4.70 billion, a P/E ratio of -7.09, a P/E/G ratio of 0.21 and a beta of 0.77. The business’s 50 day moving average is C$9.82 and its 200 day moving average is C$9.87.

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.