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Bausch Health - >>> 5 Best Marijuana Stocks To Invest In


Insider Monkey

February 22, 2024


https://www.insidermonkey.com/blog/5-best-marijuana-stocks-to-invest-in-2-1263318/3/



2. Bausch Health Companies Inc. (NYSE:BHC)

Number of Hedge Fund Holders: 31

Bausch Health Companies Inc. (NYSE:BHC) is a pharmaceutical company that develops, manufactures, and markets products in various medical fields, including gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals, and eye health. Bausch Health Companies Inc. (NYSE:BHC) is also involved in the medical marijuana market. Bausch’s Q4 2023 revenue rose 9.5% year-over-year to $2.41 billion, beating Wall Street estimates by $120 million.

According to Insider Monkey’s fourth quarter database, 31 hedge funds were bullish on Bausch Health Companies Inc. (NYSE:BHC), same as the prior quarter. GoldenTree Asset Management is the largest stakeholder of the company, with 27.6 million shares worth $221.7 million.

Here is what Miller Value Partners Opportunity Trust Fund has to say about Bausch Health Companies Inc. (NYSE:BHC) in its Q2 2022 investor letter:

“Bausch Health Companies Inc. (NYSE:BHC) declined during the quarter as the company consummated its Bausch+Lomb IPO at valuations far below expectations, reported disappointing Q1 2022 results, and delayed its plan to spin out its Solta (aesthetics) business due to difficult market conditions. While the company spun off 10% of Bausch+Lomb (BCLO) they retained 90% of the company which they intend to distribute once they have met their target leverage ratio of 6.5-6.7x. The future spin-off value of the Bausch+Lomb piece represents a value of $12.55 per share, 39% above where Bausch Health is currently trading. The company recently appointed John Paulsen as Chair of the Board, which should accelerate value realization.”

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