Carl Icahn Stock Portfolio: Top 10 Stock Picks

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

Carl Icahn’s Q4 2024 Stake: $279.85 million

Bausch Health Companies Inc. (NYSE:BHC) is a multinational pharmaceutical corporation that develops and distributes prescription medications, over-the-counter treatments, and medical devices for eye health, gastroenterology, dermatology, and neurology.

In the last quarter of 2024, Bausch Health Companies Inc. (NYSE:BHC) reported revenues of $2.56 billion, an increase of 9% organically, while full-year revenue came in at $9.63 billion, a 10% increase. The company also reported GAAP net income of $93 million during the quarter, although it ended the year with a net loss of $46 million.

On February 21, Jason Gerberry, an analyst at Bank of America Securities, confirmed his Sell rating on Bausch Health Companies Inc. (NYSE:BHC), with a price target of $7. The analyst’s rating is based on a number of variables, the primary of which is Bausch Health Companies’ future prognosis. While the firm beat expectations with its 4Q/FY25 prediction, the increase was primarily driven by its Xifaxan brand, which is expected to lose exclusivity in January 2028, or maybe earlier. This raises concerns about Bausch’s ability to continue growth once Xifaxan’s exclusivity expires, since there are no apparent growth drivers to replace the massive revenue contribution from the medicine.