5 Stocks Better than AMC According to Hedge Funds

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

Number of Hedge Fund Holders: 45  

Bausch Health Companies Inc. (NYSE:BHC) is a Canada-based biotechnology company. It is placed fourth on our list of 10 stocks better than AMC according to hedge funds.

On September 21, investment advisory JPMorgan maintained an Overweight rating on Bausch Health Companies Inc. (NYSE:BHC) stock with a price target of $38, noting the shares had 50% upside based on recent growth estimates. 

At the end of the second quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $3.9 billion in Bausch Health Companies Inc. (NYSE:BHC), up from 42 in the preceding quarter worth $4 billion. 

In its Q1 2021 investor letter, Miller Value Partners, an asset management firm, highlighted a few stocks and Bausch Health Companies Inc. (NYSE:BHC) was one of them. Here is what the fund said:

“Bausch Health Companies (BHC) climbed 55% during the period. Glenview (6% owner) sent a letter to the company in early February arguing the company has not acted to unlock shareholder value and urging the company to sell its eye care business. Shortly after, activist investor Carl Icahn disclosing a 7.83% stake in the company. The company responded to the filing saying that they remain committed to splitting the business into two parts, but are open to pursuing all opportunities. The company reported strong 4Q results with better-than-expected 2021 guidance. 4Q revenue came in at $2,213M slightly ahead of consensus of $2,165M and EPS of $1.34 beat consensus of $1.12. The company guided for 2021 revenue of $8.6-8.8B coming in ahead of expectations of $8.55B with EBITDA of $3.4-3.55B ahead of $3.46B estimated. The company announced the transition of Paul Herendeen to an advisory role to be succeeded by Sam Eldessouky, previously senior vice president, controller and chief accounting officer. Finally, the company announced the sale of Amoun Pharmaceutical for $740M, which was relatively in line with estimates and should help support debt reduction targets ahead of the planned spin-off of Bausch + Lomb eye care business.”