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We will purchase 500 shares after you have received this email. Bausch Health (BHC)At approximately $26.43. The Charitable Trust will now own approximately 2,000 Bausch Health shares following the transaction. BHC will be able to increase its portfolio’s weight by buying this buy, which is approximately 0.93% to around 1.24%.

Members know we look forward to the presentation of management by JPMorgan Healthcare on Wednesday (slide deck). here). Before the conference we took the opportunity last weekOur price target for the stock was raised to $36 from $29 because our original estimates of the Solta Medical operating division, which is rapidly growing, were considered too conservative. This unit will IPO this year.

Shares have experienced a further 3% pullback since our January 5th price target revision. This is despite the fact that there has been no fundamental change.

With the Solta IPO on the near-term horizon, and additional details coming out this week during the conference (we expect further updates on top of the slide deck provided already when management speaks tomorrow – details hereWe believe that investors will place more emphasis on the total value of our investments. This is why we want to increase our position quickly.

Although we don’t make any rash decisions about our overall cost basis (we were up 3% from the position at time of alert), we think the 2022 weakness is an opportunity to capitalize on.

We believe that this position, which will account for 1.24% in the portfolio after the trade, will be sufficient to allow us to profit from any rise higher. However it will also remain small enough that we have plenty of margin for buying additional shares should there be further weakness.

My Charitable Trust now has an official home at the CNBC Investing Club. You can view every portfolio move and receive my market insights before everyone else. Action Alerts Plus has ceased to be affiliated with my writings and the Charitable Trust.

 You will be notified by Jim Cramer if you subscribe to CNBC Investing Club. Jim may then make a trade. Jim must wait for a trade signal to be sent before he buys or sells a stock within his portfolio of charitable trust stocks. Jim can wait up to 72 hours before trading if Jim discussed the stock on CNBC TV. See here for the investing disclaimer.

 (Jim Cramer’s Charitable Trust was long BHC.