Bausch Health (BHC, $26.30) beats Q3 revenue expectations; hikes full-year sales guidance
Bausch Health posted third-quarter revenue that surpassed analysts’ expectations. The company also boosted its revenue guidance.
In the third quarter, the pharmaceutical company’s revenue increased to $2.21 billion ( from $2.14 billion a year earlier), beating analysts’ estimate of $2.16 billion.
Bausch reported a loss of -$49 million, or -14 cents a share - compared to a loss of -$350 million, or -$1 a share in the year-ago quarter.
Adjusted net income for the quarter came in at $425 million, up from $403 million a year earlier.
Looking ahead, Bausch Health now expects a revenue range of $8.475 billion to $8.625 billion for the full-year 2019, up from its previous guidance of $8.4 billion to $8.6 billion.
CEO Joseph Papa emphasized on the strength of the company's long-standing brands, Xifaxan, BioTrue Oneday and Bausch + Lomb Ultra, as well as successful performances of newer products, such as Lumify and Thermage. Papa is also optimistic about their newest dermatology product Duobrii.
BHC's RSI Oscillator sits in oversold zone for 2 days
It is expected that a price bounce should occur soon.
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Notable companies
The most notable companies in this group are ZOETIS (NYSE:ZTS), Teva Pharmaceutical Industries Limited (NYSE:TEVA), Elanco Animal Health (NYSE:ELAN), Intra-Cellular Therapies (NASDAQ:ITCI), Bausch Health Companies (NYSE:BHC), Tilray Brands (NASDAQ:TLRY), Avadel Pharmaceuticals plc (NASDAQ:AVDL), Canopy Growth Corp (NASDAQ:CGC), Aurora Cannabis (NASDAQ:ACB), Journey Medical Corp (NASDAQ:DERM).
Industry description
Pharmaceuticals (Other) comprise companies that are involved in the discovery, development or manufacturing of therapeutic and preventative medicines. They often collaborate with or acquire other pharmaceutical/healthcare firms. Examples of companies in this segment include Bausch Health Companies Inc., Icon Plc and Perrigo Company Plc.
Market Cap
The average market capitalization across the Pharmaceuticals: Other Industry is 3.16B. The market cap for tickers in the group ranges from 246 to 77.48B. ZTS holds the highest valuation in this group at 77.48B. The lowest valued company is PEMTF at 246.
High and low price notable news
The average weekly price growth across all stocks in the Pharmaceuticals: Other Industry was 2%. For the same Industry, the average monthly price growth was 3%, and the average quarterly price growth was 50%. RGC experienced the highest price growth at 204%, while DMKPQ experienced the biggest fall at -58%.
Volume
The average weekly volume growth across all stocks in the Pharmaceuticals: Other Industry was -1%. For the same stocks of the Industry, the average monthly volume growth was 7% and the average quarterly volume growth was 13%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 54
P/E Growth Rating: 71
Price Growth Rating: 60
SMR Rating: 87
Profit Risk Rating: 92
Seasonality Score: 1 (-100 ... +100)