5 Best Cannabis Stocks To Buy Now

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

Number of Hedge Fund Holders: 31

Bausch Health Companies Inc. (NYSE:BHC) is a Canadian multinational specialty pharmaceutical company headquartered in Laval, Quebec, Canada. It was previously known as Valeant Pharmaceuticals International, Inc. The company is known for selling Cesamet, a synthetic form of cannabis utilized in the treatment of nausea and vomiting in chemotherapy patients. In addition to Cesamet, Bausch Health Companies Inc. (NYSE:BHC) has a diverse product portfolio, encompassing generic pharmaceuticals, medical devices, and over-the-counter products like eye drops. The company’s diversified applications of cannabis position it favorably to potentially benefit as the cannabis industry continues to expand and evolve.

Insider Monkey’s Q3 2023 survey covering 910 hedge funds revealed that 31 were Bausch Health Companies Inc. (NYSE:BHC)’s shareholders. John Paulson’s Paulson & Co is the biggest investor among these since it has invested $217.3 million in the pharma company.