Bausch Health
Sells specialty medicines, medical devices and eye-health products through Bausch + Lomb.
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Profile
Sells medicines, OTC products and aesthetic devices across gastroenterology, hepatology, neurology and dermatology, while controlling Bausch + Lomb's eye-health business. Its portfolio combines specialty pharmaceuticals and medical devices across international markets.
Develops, manufactures and markets branded, generic and branded-generic medicines, over-the-counter products and aesthetic medical devices. Its therapeutic focus spans gastroenterology, hepatology, neurology and dermatology, with Salix serving as a named specialty-pharma business.
Bausch + Lomb supplies eye-health products through vision-care, surgical and ophthalmic businesses; Bausch Health retains control of the separately traded subsidiary. International, Diversified and Solta Medical complement the parent's operating structure.
Products are marketed directly or indirectly in more than 90 countries and regions. The business combines pharmaceutical and medical-device operations, while control of Bausch + Lomb remains a defining structural feature.
Company facts
Categories
Key statistics
Year to date −12.3% · Average volume (30d) 4.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jan 7, 2026 | Truist Financial | Target | $7 | $8 | ||
| Dec 8, 2025 | Barclays | Target | $8 | |||
| Feb 6, 2025 | Jefferies | Downgrade | Buy | Hold |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.96 | $1.26 | +31.3% | $2.59B | $2.81B | +8.7% | +28.85% |
| Apr 29, 2026Q1 FY26 | $0.81 | $0.78 | −3.7% | $2.37B | $2.47B | +4.3% | +2.33% |
| Feb 18, 2026Q4 FY25 | $1.21 | $1.08 | −10.7% | $2.73B | $2.79B | +2.1% | −4.20% |
| Oct 29, 2025Q3 FY25 | $1.07 | $1.16 | +8.4% | $2.71B | $2.68B | −1.0% | +12.03% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.26B | $2.53B | $2.68B | $2.80B | $2.52B | $2.85B | |
| Gross profit | $1.56B | $1.77B | $1.93B | $2.00B | $1.79B | $2.08B | |
| Operating income | $292.0M | $457.0M | $636.0M | $829.0M | $521.0M | $775.0M | |
| Net income | −$58.0M | $148.0M | $179.0M | −$112.0M | −$1.42B | $258.0M | |
| Diluted EPS | −$0.16 | $0.40 | $0.47 | −$0.31 | −$3.79 | $0.68 | |
| Gross margin | 69.0% | 69.8% | 72.0% | 71.5% | 70.8% | 72.9% | |
| Operating margin | 12.9% | 18.1% | 23.7% | 29.6% | 20.6% | 27.2% |
Fiscal years (4-quarter sums)FY21 $8.43B · FY22 $8.12B · FY23 $8.76B · FY24 $9.63B · FY25 $10.27B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $1.83B · Total debt $20.78B · Total assets $24.79B · Shareholders' equity −$1.77B
Dividends
No dividends on record.
Ownership
Shares outstanding 373.99M · Float 331.22M · 88.6% free float
A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Alex Meruelo | 36.76M | 9.99% | 13D | Apr 7, 2025 |
| Goldentree Asset Management LP | 34.67M | 9.27% | 13F | Aug 14, 2026 |
| Royal Bank of Canada | 10.83M | 2.90% | 13F | Aug 14, 2026 |
| Healthcare of Ontario Pension Plan Trust Fund | 8.00M | 2.14% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 7.47M | 2.00% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 19, 2026 | Aimee J. Lenar | officer: President, US Pharma | −36,827 | $7.03 |
| May 19, 2026 | Frank D. Lee | director | −24,456 | $5.43 |
| Mar 3, 2026 | Seana Carson | officer: EVP, General Counsel | −4,420 | $5.77 |
| Mar 2, 2026 | Seana Carson | officer: EVP, General Counsel | −6,856 | $5.78 |
| Feb 27, 2026 | Seana Carson | officer: EVP, General Counsel | −8,388 | $5.95 |
Peers
- Alcon
Eye-health rival across contacts, intraocular lenses and surgery
- CooperCompanies
Contact-lens rival in spherical, toric and multifocal lenses
- Johnson & Johnson
Vision-care rival in contact lenses and ophthalmic surgery
- AbbVie
Ocular-health and aesthetics rival through the Allergan portfolio
- Teva (ADR)
Branded and generic pharmaceutical rival in international markets
- Ironwood Pharmaceuticals
Direct GI rival in adult IBS-C and chronic idiopathic constipation
- InMode
Energy-based aesthetics rival in skin rejuvenation and contouring
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Bausch Health | $6.32 | 0.00% | $2.36B | — | 1.4 | 0.2 | +11.2% |
| Alcon | $72.15 | +0.21% | $35.12B | 55.4 | 18.6 | 3.3 | +7.5% |
| CooperCompanies | $71.17 | +0.01% | $13.88B | 60.3 | 15.0 | 3.3 | +7.9% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| AbbVie | $255.80 | +0.13% | $451.38B | 72.0 | 16.8 | 7.0 | +10.2% |
| Teva (ADR) | $36.30 | −0.36% | $42.44B | 60.7 | 12.9 | 2.5 | −0.8% |
| Ironwood Pharmaceuticals | $4.12 | −0.06% | $679.9M | 5.4 | 3.5 | 1.7 | +32.6% |
| InMode | $14.96 | +0.71% | $853.6M | 12.1 | 11.3 | 2.3 | −0.2% |
| Median | 55.4 | 15.0 | 3.3 | +7.5% |