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Bausch (BHC) Stock Jumps 19.3%: Will It Continue to Soar?
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Bausch Health (BHC - Free Report) shares rallied 19.3% in the last trading session to close at $8.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.7% loss over the past four weeks.
The sudden surge in stock price can be attributed to the appointment of Brent Saunders as the new CEO of Bausch + Lomb. Saunders will officially take the helm on March 6, 2023. He previously served as the CEO of Bausch + Lomb, from 2010 to 2013, before it was sold off to Valeant Pharmaceuticals International.
This drugmaker is expected to post quarterly earnings of $0.92 per share in its upcoming report, which represents a year-over-year change of -27.6%. Revenues are expected to be $2.12 billion, down 3.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Bausch, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BHC going forward to see if this recent jump can turn into more strength down the road.
Bausch is a member of the Zacks Medical - Generic Drugs industry. One other stock in the same industry, Amphastar Pharmaceuticals (AMPH - Free Report) , finished the last trading session 0.6% higher at $32.56. AMPH has returned 11.8% over the past month.
For Amphastar, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.38. This represents a change of -9.5% from what the company reported a year ago. Amphastar currently has a Zacks Rank of #3 (Hold).
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Bausch (BHC) Stock Jumps 19.3%: Will It Continue to Soar?
Bausch Health (BHC - Free Report) shares rallied 19.3% in the last trading session to close at $8.98. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.7% loss over the past four weeks.
The sudden surge in stock price can be attributed to the appointment of Brent Saunders as the new CEO of Bausch + Lomb. Saunders will officially take the helm on March 6, 2023. He previously served as the CEO of Bausch + Lomb, from 2010 to 2013, before it was sold off to Valeant Pharmaceuticals International.
This drugmaker is expected to post quarterly earnings of $0.92 per share in its upcoming report, which represents a year-over-year change of -27.6%. Revenues are expected to be $2.12 billion, down 3.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Bausch, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BHC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Bausch is a member of the Zacks Medical - Generic Drugs industry. One other stock in the same industry, Amphastar Pharmaceuticals (AMPH - Free Report) , finished the last trading session 0.6% higher at $32.56. AMPH has returned 11.8% over the past month.
For Amphastar, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.38. This represents a change of -9.5% from what the company reported a year ago. Amphastar currently has a Zacks Rank of #3 (Hold).