Bausch + Lomb FY2024 EPS Forecast Reduced by HC Wainwright

Bausch + Lomb Co. (NYSE:BLCO) – Analysts at HC Wainwright decreased their FY2024 EPS estimates for Bausch + Lomb in a research note issued to investors on Thursday, October 31st. HC Wainwright analyst Y. Chen now anticipates that the company will earn $0.60 per share for the year, down from their previous forecast of $0.61. HC Wainwright currently has a “Buy” rating and a $23.00 target price on the stock. The consensus estimate for Bausch + Lomb’s current full-year earnings is $0.59 per share. HC Wainwright also issued estimates for Bausch + Lomb’s Q4 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.21 EPS, Q4 2025 earnings at $0.28 EPS and FY2025 earnings at $0.94 EPS.

A number of other research firms also recently issued reports on BLCO. Wells Fargo & Company raised their price target on shares of Bausch + Lomb from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $19.00 to $25.00 in a research note on Tuesday, October 15th. Evercore raised their target price on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Raymond James started coverage on shares of Bausch + Lomb in a report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 price target for the company. Finally, Stifel Nicolaus raised their price objective on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.91.

Bausch + Lomb Trading Down 3.1 %

NYSE BLCO opened at $19.87 on Monday. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 1.01. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of -18.92, a price-to-earnings-growth ratio of 1.90 and a beta of 0.46. The company’s fifty day moving average price is $18.68 and its two-hundred day moving average price is $16.52.

Bausch + Lomb (NYSE:BLCO) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share.

Institutional Investors Weigh In On Bausch + Lomb

Large investors have recently added to or reduced their stakes in the business. River Road Asset Management LLC increased its position in shares of Bausch + Lomb by 4.4% in the third quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after purchasing an additional 85,987 shares during the period. Renaissance Capital LLC boosted its holdings in Bausch + Lomb by 20.0% in the third quarter. Renaissance Capital LLC now owns 43,560 shares of the company’s stock valued at $840,000 after acquiring an additional 7,274 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Bausch + Lomb in the second quarter valued at approximately $580,000. Point72 Asset Management L.P. lifted its stake in Bausch + Lomb by 31.0% in the second quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock valued at $9,397,000 after buying an additional 153,000 shares during the period. Finally, Clearline Capital LP raised its position in shares of Bausch + Lomb by 136.8% during the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after purchasing an additional 411,404 shares during the period. Institutional investors own 11.07% of the company’s stock.

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.