Bausch + Lomb (NYSE:BLCO) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Bausch + Lomb (NYSE:BLCO) in a research report released 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.

Several other analysts also recently weighed in on BLCO. Barclays upped their price target on Bausch + Lomb from $17.00 to $18.00 and gave the stock an equal weight rating in a research note on Monday, February 26th. Evercore dropped their price target on shares of Bausch + Lomb from $17.00 to $16.50 and set an in-line rating on the stock in a research note on Thursday, February 22nd. Royal Bank of Canada reduced their price objective on shares of Bausch + Lomb from $20.00 to $18.00 and set an outperform rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company upped their target price on shares of Bausch + Lomb from $21.00 to $23.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. Finally, Needham & Company LLC reissued a hold rating on shares of Bausch + Lomb in a research report on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Bausch + Lomb has an average rating of Hold and a consensus price target of $19.27.

Bausch + Lomb Stock Performance

Shares of BLCO stock opened at $13.60 on Thursday. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -14.17, a PEG ratio of 1.29 and a beta of 0.47. The stock has a fifty day moving average of $15.76 and a 200 day moving average of $15.58. Bausch + Lomb has a 52 week low of $13.16 and a 52 week high of $21.95. 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 (NYSE:BLCO) last posted its quarterly earnings data 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Bausch + Lomb had a negative net margin of 7.81% and a positive return on equity of 3.60%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, research analysts expect that Bausch + Lomb will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Bausch + Lomb

A number of hedge funds have recently added to or reduced their stakes in the stock. Black Swift Group LLC purchased a new position in shares of Bausch + Lomb in the 3rd quarter worth $170,000. Jump Financial LLC bought a new position in Bausch + Lomb in the third quarter valued at about $255,000. Renaissance Capital LLC boosted its position in Bausch + Lomb by 27.3% in the fourth 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 last quarter. Quadrature Capital Ltd bought a new stake in shares of Bausch + Lomb during the 3rd quarter valued at about $466,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Bausch + Lomb during the 4th quarter valued at about $1,706,000. 11.07% of the stock is currently 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.