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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
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 #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of A. The stock is down 2.9% and up 3.3% over the past one-week and four-week period, respectively, and Bausch Health has lost 7.3% in the last one-year period as well. Additionally, an average of 991,653.50 shares were traded over the last 20 trading sessions.
Momentum investors also pay close attention to a company's earnings. For BHC, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0 to $3.73 per share for 2024. BHC boasts an average earnings surprise of 0.3%.