FY2024 EPS Estimates for Bausch + Lomb Cut by HC Wainwright

Bausch + Lomb Co. (NYSE:BLCO) – Investment analysts at HC Wainwright reduced their FY2024 earnings estimates for shares of Bausch + Lomb in a research report issued to clients and investors on Thursday, October 31st. HC Wainwright analyst Y. Chen now expects that the company will post earnings of $0.60 per share for the year, down from their prior estimate 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.

BLCO has been the subject of several other reports. Raymond James began coverage on shares of Bausch + Lomb in a research report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 price objective for the company. Citigroup lifted their price objective on shares of Bausch + Lomb from $20.00 to $24.00 and gave the stock a “buy” 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 report on Tuesday, October 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.91.

Bausch + Lomb Stock Performance

Shares of BLCO stock opened at $19.87 on Monday. The stock has a market capitalization of $7.00 billion, a PE ratio of -18.92, a P/E/G ratio of 1.90 and a beta of 0.46. The firm has a 50 day moving average of $18.68 and a two-hundred day moving average of $16.52. Bausch + Lomb has a 52 week low of $13.16 and a 52 week high of $21.69. The company has a quick ratio of 1.01, a current ratio of 1.57 and a debt-to-equity ratio of 0.69.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Europe London LLP boosted its holdings in Bausch + Lomb by 28.9% during the second quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after buying an additional 146,583 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Bausch + Lomb during the second quarter worth about $580,000. Clearline Capital LP boosted its holdings in 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 buying an additional 411,404 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Bausch + Lomb by 25.0% during the second quarter. Gabelli Funds LLC now owns 390,000 shares of the company’s stock worth $5,663,000 after buying an additional 78,000 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Bausch + Lomb during the second quarter worth about $1,911,000. 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.