Bausch + Lomb (NYSE:BLCO) Issues Earnings Results

Bausch + Lomb (NYSE:BLCO) posted its quarterly earnings results on Wednesday. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02), Briefing.com reports. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.70% and a negative net margin of 6.27%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 earnings per share. Bausch + Lomb updated its FY 2024 guidance to EPS.

Bausch + Lomb Trading Up 0.1 %

Bausch + Lomb stock traded up $0.02 during trading hours on Thursday, hitting $13.76. The company had a trading volume of 580,245 shares, compared to its average volume of 483,299. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.74. The firm has a market cap of $4.84 billion, a P/E ratio of -18.57, a P/E/G ratio of 1.40 and a beta of 0.47. The company has a 50-day moving average price of $15.97 and a two-hundred day moving average price of $15.65. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.95.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Bausch + Lomb in a report on Thursday. Royal Bank of Canada decreased their price target on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company lifted their price objective 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, Barclays increased their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.41.

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.