Bausch + Lomb (NYSE:BLCO) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Bausch + Lomb (NYSE:BLCO) in a report published on Thursday morning, Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright also issued estimates for Bausch + Lomb’s Q2 2024 earnings at $0.20 EPS, Q3 2024 earnings at $0.26 EPS, FY2024 earnings at $0.89 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.25 EPS and Q4 2025 earnings at $0.29 EPS.

BLCO has been the topic of a number of other research reports. Needham & Company LLC reissued a hold rating on shares of Bausch + Lomb in a research report on Wednesday. Wells Fargo & Company raised their price objective on Bausch + Lomb from $21.00 to $23.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Evercore decreased their price objective on Bausch + Lomb from $17.00 to $16.50 and set an in-line rating for the company in a report on Thursday, February 22nd. Royal Bank of Canada reduced their price target on shares of Bausch + Lomb from $20.00 to $18.00 and set an outperform rating for the company in a research report on Monday, April 22nd. Finally, Barclays boosted their price target on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an equal weight rating in a research note on Monday, February 26th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $19.27.

Bausch + Lomb Trading Down 1.9 %

Shares of NYSE BLCO traded down $0.26 during midday trading on Thursday, reaching $13.60. The stock had a trading volume of 533,395 shares, compared to its average volume of 641,173. The company’s 50 day moving average price is $15.76 and its 200 day moving average price is $15.60. The company has a quick ratio of 1.09, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.95.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Bausch + Lomb had a negative net margin of 7.81% and a positive return on equity of 3.60%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company posted $0.10 EPS. The business’s revenue was up 18.0% compared to the same quarter last year. Analysts forecast that Bausch + Lomb will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Bausch + Lomb

Several large investors have recently added to or reduced their stakes in BLCO. Eminence Capital LP raised its holdings in Bausch + Lomb by 11.7% during the 3rd quarter. Eminence Capital LP now owns 5,994,806 shares of the company’s stock valued at $101,612,000 after acquiring an additional 626,431 shares during the period. Freshford Capital Management LLC lifted its holdings in shares of Bausch + Lomb by 29.8% in the fourth quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock worth $29,925,000 after buying an additional 403,062 shares in the last quarter. Alberta Investment Management Corp boosted its position in shares of Bausch + Lomb by 39.1% in the third quarter. Alberta Investment Management Corp now owns 1,351,793 shares of the company’s stock valued at $22,913,000 after acquiring an additional 380,000 shares during the period. River Road Asset Management LLC grew its stake in Bausch + Lomb by 21.6% during the fourth quarter. River Road Asset Management LLC now owns 1,938,207 shares of the company’s stock valued at $33,066,000 after acquiring an additional 343,772 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. increased its holdings in Bausch + Lomb by 11.5% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,220,062 shares of the company’s stock worth $54,580,000 after acquiring an additional 333,000 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Company Profile

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.