Bausch Health (BHC.US), a pharmaceutical and medical device company, rose more than 5% during today’s session. Stock soared as an activist billionaire investor, Carl Icahn, has taken a stake in the company. Icahn disclosed a 7.8% stake in a regulatory filing. An activist investor has a reputation for pushing for major changes in companies. He said earlier that he believed that Bausch Health stock is undervalued and planned to discuss ways to enhance shareholder value with management and board. The investment makes him the company’s largest single shareholder.
Bausch Health (BHC.US) share price has reached 2019-highs, just a notch below $32 level. Stock has surged in recent weeks and broke above key long-term price zone around $27.50. Source: xStation5
