Bausch Health Companies: The Sell-Off Looks Overdone
Bausch Health's (NYSE: BHC) stock price has declined by 48% over the past three months, compared with a 20% decline in the overall market. While Bausch's non-discretionary eye care products should hold up well in an economic downturn, the company's poor balance sheet is scaring away investors in these uncertain times.
With the coronavirus pandemic threatening to plunge the global economy into its deepest downturn since 2008, the market is justifiably worried about highly leveraged equities. But despite Bausch's high debt load, management is making convincing progress toward getting the debt under control while generating sustainable organic growth.
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Source Fool.com
