HC Wainwright Reaffirms Buy Rating for Bausch + Lomb (NYSE:BLCO)

HC Wainwright reaffirmed their buy rating on shares of Bausch + Lomb (NYSE:BLCO) in a research report released on Thursday, Benzinga reports. HC Wainwright currently has 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.

A number of other research analysts have also recently commented on the stock. Evercore decreased their target price on shares of Bausch + Lomb from $17.00 to $16.50 and set an in-line rating on the stock in a research report on Thursday, February 22nd. Royal Bank of Canada dropped their target price on shares of Bausch + Lomb from $20.00 to $18.00 and set an outperform rating for the company in a report on Monday, April 22nd. Evercore ISI boosted their target price on Bausch + Lomb from $16.50 to $17.00 and gave the company an in-line rating in a research report on Thursday, April 4th. Barclays raised their price target on Bausch + Lomb from $17.00 to $18.00 and gave the stock an equal weight rating in a research report on Monday, February 26th. Finally, Wells Fargo & Company boosted their price objective on Bausch + Lomb from $21.00 to $23.00 and gave the company an overweight rating in a report on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bausch + Lomb currently has an average rating of Hold and an average target price of $19.27.

Bausch + Lomb Stock Performance

Shares of NYSE BLCO opened at $13.60 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.09 and a current ratio of 1.70. The company has a 50 day simple moving average of $15.76 and a 200-day simple moving average of $15.60. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.95.

Bausch + Lomb (NYSE:BLCO) last issued 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). Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. On average, analysts anticipate that Bausch + Lomb will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eminence Capital LP boosted its stake in shares of Bausch + Lomb by 11.7% in 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 during the period. Maple Rock Capital Partners Inc. lifted its stake in Bausch + Lomb by 11.5% in the third 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 last quarter. River Road Asset Management LLC grew its holdings in Bausch + Lomb by 21.6% during the 4th quarter. River Road Asset Management LLC now owns 1,938,207 shares of the company’s stock worth $33,066,000 after acquiring an additional 343,772 shares in the last quarter. Freshford Capital Management LLC increased its position in shares of Bausch + Lomb by 29.8% in 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 raised its holdings in shares of Bausch + Lomb by 39.1% in 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 institutional investors and hedge funds.

About Bausch + Lomb

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.