Billionaire Carl Icahn’s Top 10 Stocks

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

Icahn Capital LP’s Equity Stake: $242.01 Million

Number of Hedge Fund Holders: 32

Bausch Health Companies (NYSE:BHC) is one of billionaire Icahn’s top 10 stocks in the healthcare sector. As a diversified specialty pharmaceutical and medical device company, it develops, manufactures, and markets a range of products, primarily in gastroenterology, hepatology, neurology, dermatology, and international pharmaceuticals.

Bausch Health Companies (NYSE:BHC) delivered solid second-quarter results, with net revenue increasing 6% year-over-year to $1.19 billion. This growth was driven by organic expansion and strong performance in key areas, with Xifaxan leading the charge with a 10% increase year-over-year.

The Asia Pacific market is becoming an important part of the equation, having delivered a 19% increase in sales during the period. The company’s impressive revenue growth, coupled with its solid international presence, is noteworthy.

Bausch Health Companies (NYSE:BHC) stands out as one of billionaire Icahn’s top 10 stocks owing to its ability to grow earnings over the past five years. The company’s adjusted EBITDA rose 8% year-over-year, reaching $614 million. Bausch Health also secured a solid operating cash flow of $380 million, attributed to its improved business operations and favorable cash flow management.

At its current valuation, BHC is considered undervalued. It trades at just 1.6 times its forward earnings, representing a significant discount to its industry average. Furthermore, analysts expect the company’s earnings to grow by 2% this year, reaching $1.04 billion.

Insider Monkey reviewed the second quarter 2024 shareholdings of 912 hedge funds and discovered that 32 of them had invested in the firm. Bausch Health Companies Inc. (NYSE:BHC)’s largest hedge fund shareholder is Carl Icahn’s Icahn Capital LP through its $242.01 million stake.