Carl Icahn’s 2022 Portfolio: 4 Value Stock Picks

3. Bausch Health Companies (NYSE:BHC)

Icahn Capital’s Stake Value: $793,378,000

Percentage of Icahn Capital’s 13F Portfolio: 3.62%

PE Ratio as of May 31: 2.47

Number of Hedge Fund Holders: 48

Bausch Health Companies Inc. (NYSE:BHC) operates as a healthcare company that manufactures and sells a variety of pharmaceutical, medical device, and over-the-counter (OTC) products. This May, Bausch Health Companies Inc. (NYSE:BHC) reported earnings for the fiscal first quarter of 2022. The company reported earnings per share of $0.72, missing EPS expectations by $0.30. The company generated revenues of $1.92 billion and missed revenue consensus by $121.51 million.

As of March 31, Icahn Capital owns over 34.72 million shares of Bausch Health Companies Inc. (NYSE:BHC) which bring the fund’s stakes in the company to $793.37 million. The investment covers 3.62% of Carl Icahn’s 13F portfolio. Bausch Health Companies Inc. (NYSE:BHC) is one of the best value stocks to buy according to Carl Icahn. As of May 31, the stock has a forward PE ratio of 2.47, trading at $9.72 a share with the company’s market capitalization at $3.50 billion.

On May 11, BMO Capital analyst Gary Nachman trimmed his price target on Bausch Health Companies Inc. (NYSE:BHC) to $15 from $26 and reiterated a Market Perform rating on the shares.

At the close of Q1 2022, 48 hedge funds were long Bausch Health Companies (NYSE:BHC) with stakes worth $3.17 billion. This is compared to 53 positions in the preceding quarter with stakes of $3.86 billion.