Bausch Health (BHC) Climbs 45% on Insider Buying

We recently published 10 Double-Digit Winners You Wish You Bought Yesterday. Bausch Health Companies Inc. (NYSE:BHC) is one of the last week’s top performers.

Bausch Health jumped by 45.04 percent week-on-week, on a combination of bargain-hunting and mirroring an insider purchase last Friday.

In a regulatory filing, Bausch Health Companies Inc. (NYSE:BHC) said that Paulson Capital Inc. and its affiliates acquired 34.7 million of its shares from Carl C. Icahn and affiliates, effectively boosting its total ownership to 19.13 percent.

Following the transaction that saw the sellers’ shares fall below the threshold to earn a board seat, the Icahn Group officially exited Bausch Health Companies Inc.’s (NYSE:BHC) higher management.

Additionally, Brett M. Icahn and Steven D. Miller have resigned from the company’s board of directors.

In recent news, Bausch Health Companies Inc. (NYSE:BHC) expanded its attributable net income by 1,380 percent in the second quarter of the year to $148 million from only $10 million in the same period last year. Revenues also grew by 5 percent to $2.53 billion from $2.4 billion.

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