13 Best Canadian Penny Stocks to Invest in Now

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

Closing Stock Price as of April 16^th: $4.50

Number of Hedge Fund Holders: 36

​Bausch Health Companies Inc. (NYSE:BHC) is a pharmaceutical and medical device company. Through its Bausch + Lomb segment, the company focuses on eye health products (a range of vision care, surgical, and ophthalmic pharmaceutical products). The International Rx segment handles branded and generic pharmaceutical products outside the US, and the Diversified Products segment includes neurology and other therapeutic areas. BHC is a global player with operations in more than 100 countries, and ranked first on our recent list of 12 Best Low Price Pharma Stocks To Invest In Right Now.

Bausch Health Companies Inc. (NYSE:BHC) delivered strong results in the latest reported Q4, marking its seventh consecutive quarter of revenue and adjusted EBITDA growth. The company’s Q4 2024 revenues increased 4% on a reported basis and 7% on an organic basis, driven by strong organic growth in the Salix and Solta segments. For the full year 2024, revenues increased 5% on a reported basis and 6% on an organic basis, with all four segments delivering revenue and segment profit growth. The company generated approximately $1.3 billion in adjusted operating cash flow for the full year, exceeding guidance.

Looking ahead, Bausch Health Companies Inc. (NYSE:BHC) is focused on three fundamental value-creation pillars: enhancing operational assets, unlocking the full value of its Bausch + Lomb equity stake, and optimizing capital structure. The company has made substantial progress in strengthening its leadership team with key appointments in critical areas, including a new CFO. The company’s innovation efforts have shown progress, particularly with the approval of Thermage FLX in China and the development of AI-enabled tools for Xifaxan sales, which secures its 3^rd place on our list of the best Canadian penny stocks.