Why Bausch Health (BHC) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Bausch Health (BHC)
Based in British Columbia, Canada, Bausch Health Companies Inc. develops, manufactures and markets a wide range of branded, generic and branded generic pharmaceuticals as well as over-the-counter (OTC) products in the therapeutic areas of gastroenterology (GI), hepatology, neurology, dermatology and aesthetic medical devices. The company also markets branded and branded generic pharmaceuticals, OTC products and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment) in the therapeutic areas of eye health through its majority stake in Bausch + Lomb Corporation. In May 2022, Bausch launched the initial public offering (IPO) for its eye health business, Bausch + Lomb, which subsequently began trading under the ticker "BLCO" on May 6, 2022. Bausch Health owns an 88% majority stake in Bausch + Lomb. The completion of this separation is contingent on the achievement of targeted debt leverage ratios and the receipt of other necessary approvals.
BHC sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of B, and has a VGM Score of A. The stock is down 2.1% and up 7.1% over the past one-week and four-week period, respectively, and Bausch Health has gained 16.7% in the last one-year period as well. Additionally, an average of 2,613,142.50 shares were traded over the last 20 trading sessions.
Momentum investors also pay close attention to a company's earnings. For BHC, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.15 to $3.92 per share for 2024. BHC boasts an average earnings surprise of 0.8%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding BHC to their portfolios.
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Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report
