Troubled health name bounces after strong quarter and guidance. Here's our view on the stock

An initial nearly 9% rally in BHC to over $10 per share faded somewhat as investors tempered optimism over good results.

Troubled health name bounces after strong quarter and guidance. Here's our view on the stock

Rafael Henrique | Sopa Images | Getty Images

Troubled Club holding Bausch Health Companies (BHC) reported better-than-expected quarterly results before the bell Thursday. However, it's not nearly enough to get this stock out of the penalty box.