Bausch Health Companies Inc. (BHC - Free Report) was a big mover last session, as the company saw its shares rise nearly 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $20.64–$23.60 in the past one-month time frame, witnessed a sharp increase yesterday.
The move came after the company reported a patent settlement with Actavis Labs.
The company has seen four positive estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for Bausch. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Bausch currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the Medical - Generic Drugs industry is Akorn, Inc. (AKRX - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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