HC Wainwright Reiterates “Buy” Rating for Bausch + Lomb (NYSE:BLCO)

Bausch + Lomb (NYSE:BLCO)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $20.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 47.06% from the company’s previous close. 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.

Several other research analysts also recently commented on BLCO. Evercore ISI lifted their target price on shares of Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Barclays upped their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Wednesday. Evercore lowered their price target on 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. Finally, Royal Bank of Canada cut their price objective on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Six investment 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 has an average rating of “Hold” and an average price target of $19.27.

Bausch + Lomb Trading Down 1.9 %

NYSE BLCO traded down $0.26 during trading on Thursday, hitting $13.60. 533,395 shares of the company’s stock traded hands, compared to its average volume of 641,173. The stock has a fifty day moving average of $15.76 and a two-hundred day moving average of $15.60. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.95. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.09 and a current ratio of 1.70.

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

Institutional Trading of Bausch + Lomb

Hedge funds and other institutional investors have recently modified their holdings of the business. Eminence Capital LP increased its position 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 buying an additional 626,431 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of Bausch + Lomb by 11.5% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,220,062 shares of the company’s stock worth $54,580,000 after purchasing an additional 333,000 shares during the last quarter. River Road Asset Management LLC boosted its stake in Bausch + Lomb by 21.6% in the 4th quarter. River Road Asset Management LLC now owns 1,938,207 shares of the company’s stock worth $33,066,000 after purchasing an additional 343,772 shares in the last quarter. Freshford Capital Management LLC grew its position in Bausch + Lomb by 29.8% during the 4th quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock valued at $29,925,000 after purchasing an additional 403,062 shares during the last quarter. Finally, Alberta Investment Management Corp increased its stake in Bausch + Lomb by 39.1% during the 3rd quarter. Alberta Investment Management Corp now owns 1,351,793 shares of the company’s stock valued at $22,913,000 after purchasing an additional 380,000 shares in the last quarter. 11.07% of the stock is owned by hedge funds and other 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.