Bausch + Lomb’s (BLCO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Bausch + Lomb (NYSE:BLCO) in a research note published on Thursday morning, Benzinga reports. HC Wainwright currently has a $20.00 price objective 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.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC restated a hold rating on shares of Bausch + Lomb in a report on Wednesday. Royal Bank of Canada reduced their price target on shares of Bausch + Lomb from $20.00 to $18.00 and set an outperform rating on the stock in a research report on Monday, April 22nd. Evercore lowered their price objective on shares of Bausch + Lomb from $17.00 to $16.50 and set an in-line rating for the company in a research report on Thursday, February 22nd. Wells Fargo & Company boosted their target price on shares of Bausch + Lomb from $21.00 to $23.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. Finally, Evercore ISI increased their price target on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an in-line rating in a report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Bausch + Lomb currently has a consensus rating of Hold and a consensus price target of $19.27.

Bausch + Lomb Trading Down 1.9 %

Shares of BLCO stock traded down $0.26 during mid-day trading on Thursday, hitting $13.60. The company had a trading volume of 533,395 shares, compared to its average volume of 641,173. The stock’s 50 day moving average price is $15.76 and its 200-day moving average price is $15.60. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.95. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.09.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. During the same quarter in the previous year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts anticipate that Bausch + Lomb will post 0.66 EPS for the current year.

Institutional Investors Weigh In On Bausch + Lomb

Institutional investors and hedge funds have recently modified their holdings of the business. Black Swift Group LLC purchased a new stake in Bausch + Lomb in the 3rd quarter valued at about $170,000. Jump Financial LLC bought a new position in Bausch + Lomb in the third quarter worth approximately $255,000. Renaissance Capital LLC increased its holdings in Bausch + Lomb by 27.3% during the 4th quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock worth $382,000 after purchasing an additional 4,801 shares during the period. Quadrature Capital Ltd bought a new stake in Bausch + Lomb during the 3rd quarter valued at $466,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Bausch + Lomb in the 4th quarter worth $1,706,000. 11.07% of the stock is owned by institutional investors.

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.