Bausch Health (BHC) Rebounds 15.8% on Bargain-Hunting

We recently published Wall Street Shockers: 10 Stocks on Fire. Bausch Health Companies Inc. (NYSE:BHC) is one of the best-performing stocks on Monday.

Bausch Health bounced back by 15.83 percent on Monday to close at $6.66 apiece as investors appeared to have hunted for bargains, having traded below the $6 level for seven days in a row.

Monday’s share price marked Bausch Health Companies Inc. (NYSE:BHC) first official claw back to the green territory since the start of the month after hovering for most of the trading days below the $5.89 closing price on July 31.

It picked up to $5.94 on August 5, but only by a slight 0.85-percent gain from July 31’s closing price.

Year-to-date, the company’s shares were down by 17.4 percent.

In recent news, Bausch Health Companies Inc. (NYSE:BHC) expanded its attributable net income by 1,380 percent in the second quarter of the year to $148 million from only $10 million in the same period last year. Revenues also grew by 5 percent to $2.53 billion from $2.4 billion.

For the full-year period, Bausch Health Companies Inc. (NYSE:BHC) raised its revenue guidance to $10 billion to $10.25 billion, as compared with the $9.95 billion to $10.2 billion previously.

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