BHC & CPH: Two TSX-listed healthcare technology stocks for June 2023

June 01, 2023 09:42 AM EDT | By Akanksha Vashisht
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  • Healthcare technology companies are involved in the R&D work that goes into developing medicines and other healthcare solutions.
  • Bausch Health reported a total revenue of US$ 1.944 billion for Q1 2023.
  • Cipher Pharmaceuticals reported total revenue of US$ 4.9 million in Q1 2023.

Healthcare is a necessity for individuals, and this necessity has become increasingly evident in the post-COVID environment. While most people are moving towards a more health-conscious lifestyle, healthcare companies are also advancing at a fast pace.

The healthcare technology sub-sector includes companies that are involved in the R&D work that goes into developing medicines and other healthcare solutions. These companies may sometimes be well-recognized names and industry leaders, making them companies with stable profit flows.

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BHC and CPH are two such healthcare technology stocks that investors can examine this month.

Bausch Health Companies Inc. (TSX: BHC)

The company was previously known as Valeant Pharmaceuticals and has focus on branded dermatology products, gastrointestinal and ophthalmology markets. The company is one of the top visioncare providers across India and China.

For the March 2023 quarter, Bausch reported total revenue of US$ 1.944 billion, compared to a total revenue of US$ 2.193 billion in the December 2022 quarter. The operating income for the quarter was US$ 188 million, while the EBITDA was US$ 495 million. Bausch’s operating cash flow for the March 2023 quarter was US$ 27 million.

Image source: ©2023 Kalkine®; Data source: Company Reports

Across the company’s five segments, Bausch reported revenues of US$ 931 million in its Bausch + Lomb segment in F1 2023. This marked an increase of US$ 42 million over the first quarter of 2022.

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Cipher Pharmaceuticals Inc. (TSX: CPH)

Cipher produces Dermatology Products and Hospital Acute Care Products among a range of pharmaceutical goods. It operates across the United States and Canada.

Cipher reported total revenue of US$ 4.9 million in Q1 2023, compared to US$ 5.4 million in Q1 2022. For this quarter, the company reported adjusted EBITDA of US$ 3.2 million in Q1 2023, marking an increase of 3%.

Image source: ©2023 Kalkine®; Data source: Company Reports

Cipher’s net income was US$ 2.7 million or US$ 0.10 per diluted share in Q1 2023. While in Q1 2022, the company’s net income was US$ 2.1 million or US$ 0.08 per diluted share. Cipher’s cash position by the end of the quarter was US$ 33.4 million, with no debt. Additionally, the cash from operating activities in Q1 2023 was US$ 4.7 million.


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