Bausch + Lomb (NYSE:BLCO) Issues Earnings Results, Hits Expectations

Bausch + Lomb (NYSE:BLCO) announced its earnings results on Wednesday. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13, Briefing.com reports. Bausch + Lomb had a negative net margin of 7.81% and a positive return on equity of 3.60%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. Bausch + Lomb updated its FY 2024 guidance to EPS.

Bausch + Lomb Trading Down 2.1 %

BLCO stock traded down $0.36 during midday trading on Thursday, reaching $16.86. 1,111,295 shares of the company’s stock traded hands, compared to its average volume of 523,600. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.03. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $20.30. The business has a 50-day moving average price of $15.50 and a two-hundred day moving average price of $15.35. The company has a market capitalization of $5.93 billion, a P/E ratio of -17.56, a PEG ratio of 1.74 and a beta of 0.47.

Analyst Ratings Changes

Several equities analysts recently issued reports on BLCO shares. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday. Evercore ISI raised their price objective on Bausch + Lomb from $15.00 to $15.50 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Bausch + Lomb in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft raised their price target on Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Morgan Stanley raised shares of Bausch + Lomb from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $16.00 to $18.00 in a research note on Monday, May 6th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Bausch + Lomb currently has an average rating of “Moderate Buy” and a consensus price target of $19.21.

Bausch + Lomb Company Profile

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.