Bausch + Lomb (NYSE:BLCO) Issues Earnings Results

Bausch + Lomb (NYSE:BLCO) posted its 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. Bausch + Lomb had a positive return on equity of 3.70% and a negative net margin of 6.27%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. Bausch + Lomb updated its FY 2024 guidance to EPS.

Bausch + Lomb Stock Up 0.1 %

Shares of Bausch + Lomb stock traded up $0.02 during trading on Thursday, hitting $13.76. 566,369 shares of the stock traded hands, compared to its average volume of 483,162. The firm has a market cap of $4.84 billion, a P/E ratio of -18.57, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.95. The stock’s fifty day simple moving average is $15.97 and its 200 day simple moving average is $15.65.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Wednesday. Royal Bank of Canada dropped their target price on shares of Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Evercore ISI boosted their target price on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Bausch + Lomb in a research report on Thursday. Finally, Evercore decreased their price target on shares of Bausch + Lomb from $17.00 to $16.50 and set an “in-line” rating for the company in a research note on Thursday, February 22nd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bausch + Lomb presently has an average rating of “Hold” and a consensus target price 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.