What happened Shares of Bausch Health Companies (NYSE: BHC) were falling 9.9% lower as of 11:24 a.m. EDT on Tuesday. The decline came after the company announced its first-quarter results before the market opened. So what Bausch Health reported Q1 revenue of $2.03 billion, up 1% year over year. That result fell below the consensus Wall Street revenue estimate of $2.06 billion. However, the company's adjusted earnings of $1.04 per share beat the average analyst estimate of $0.94 per share. Image source: Getty Images. Ordinarily, mixed quarterly results with a narrow revenue miss wouldn't cause a healthcare stock to sink as much as Bausch Health is falling today. Such a decline would make sense if the company's outlook caused reason for alarm. However, Bausch Health reaffirmed its full-year 2021 guidance. Some investors could be anxious about the planned separation of the company's eye-health business. Bausch Health announced today that current CEO Joseph Papa and incoming CFO Sam Eldessouky will retain their roles in Bausch + Lomb when the company is spun off. In addition, the overall stock market decline is likely weighing on Bausch Health's shares. Now what The separation of the company into two businesses is the main thing for investors to look forward to. Bausch Health CEO Joseph Papa said, "We are taking action to accelerate the strategic alternatives process to expedite the spinoff of Bausch + Lomb as we remain committed to unlocking value across our two attractive businesses." 10 stocks we like better than Bausch Health CompaniesWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Bausch Health Companies wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Keith Speights has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Bausch Health Companies. The Motley Fool has a disclosure policy.Source