FY2024 EPS Estimates for Bausch + Lomb Reduced by Analyst

Bausch + Lomb Co. (NYSE:BLCO - Free Report) - Stock analysts at HC Wainwright cut their FY2024 earnings estimates for shares of Bausch + Lomb in a report released on Thursday, October 31st. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of $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.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping 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%. Bausch + Lomb's revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 EPS.

A number of other research firms also recently issued reports on BLCO. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a "hold" rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on shares of Bausch + Lomb from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday. Raymond James started coverage on shares of Bausch + Lomb in a report on Wednesday, July 10th. They issued an "outperform" rating and a $19.00 price objective for the company. Evercore ISI raised shares of Bausch + Lomb from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $19.00 to $25.00 in a report on Tuesday, October 15th. Finally, Evercore boosted their price objective on shares of Bausch + Lomb from $15.50 to $17.00 and gave the company an "in-line" rating in a report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.91.

Bausch + Lomb Stock Performance

Shares of BLCO stock traded down $0.64 during midday trading on Monday, hitting $19.87. 905,094 shares of the company were exchanged, compared to its average volume of 571,396. The firm has a market capitalization of $7.00 billion, a P/E ratio of -18.92, a PEG ratio of 1.90 and a beta of 0.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.57. The firm's 50 day moving average price is $18.68 and its two-hundred day moving average price is $16.52. Bausch + Lomb has a 52 week low of $13.16 and a 52 week high of $21.69.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLCO. Blue Trust Inc. increased its position in Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company's stock valued at $47,000 after acquiring an additional 3,232 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Bausch + Lomb during the second quarter worth $173,000. Fore Capital LLC acquired a new stake in shares of Bausch + Lomb during the first quarter worth $384,000. Renaissance Capital LLC increased its position in shares of Bausch + Lomb by 57.2% during the second quarter. Renaissance Capital LLC now owns 36,286 shares of the company's stock worth $527,000 after buying an additional 13,210 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Bausch + Lomb during the second quarter worth $580,000. 11.07% of the stock is currently 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.