In the Canadian pharmaceuticals space, Bausch Health Companies Inc. (TSX:BHC)(NYSE:BHC) is perhaps the most well-known and widely traded company of late. Formerly Valeant Pharmaceuticals Intl Inc., Bausch is a company with not only a transformed name, but a new lease on life, with investors and insiders placing their faith and their hard earned money with the company, believing the current management team has what it takes to restore Bausch to its former heights.
Bausch has been on a multi-year debt reduction spree, in which the firm has decreased leverage well in excess of the arbitrary $5 billion target set by new CEO Joe Papa. The company's CEO has not only hit his debt reduction targets (an amazing feat), but has shattered them, strengthening the company and allowing Bausch to focus on its most profitable and prominent product lines.
Among the insiders who have recently purchased shares is CEO Papa, who has purchased 30,000 shares as part of spending spree by insiders of more than $5 million in recent weeks.
As always, a reminder that insider selling is in no way an indication of the direction a stock is expected to move in the near-term, and long-term investors should assess the fundamentals of said company and consult an investment advisor before making any purchases.
Invest wisely, my friends.
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