10 Best Canadian Stocks to Buy Under $10

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

Number of Hedge Funds Holders: 30

Share Price as of November 27: $8.12

Bausch Health Companies Inc. (NYSE:BHC), based out of Laval, Quebec, Canada, is a global diversified pharmaceutical company. The company manufactures and sells a range of products in gastroenterology, hepatology, neurology, dermatology, and international pharmaceuticals.

The company’s Salix segment consists of sales in the U.S. of its gastroenterology products, while the company’s Solta Medical segment consists of global sales of Solta Medical aesthetic medical devices. In addition to that, the company’s Bausch + Lomb segment takes care of global sales of Vision Care, surgical and pharmaceutical products.

Bausch Health Companies Inc. (NYSE:BHC) reported a sixth consecutive quarter of year-over-year growth, as of Q3 2024. The company posted revenue of $2.51 billion, up by 12% from a year ago, while the adjusted EBITDA soared by 10% to $909 million. The company’s Salix segment, particularly XIFAXAN, improved its sales by 7% from a year ago, showing strong performance. The sales of the International segment delivered 8% organic growth. Whereas, the Solta Medical segment obtained 36% organic growth year-over-year due to strong demand in South Korea and China.

Despite the improvements in quarterly results, the company continues to face Hatch-Waxman litigation, posing potential legal challenges. However, Steven Tananbaum’s GoldenTree Asset Management had added 32% of BHC’s shares to its portfolio in the third quarter and now has a stake valued at $239.55 million in Bausch Health Companies Inc. (NYSE:BHC).