Bausch + Lomb (NYSE:BLCO) Coverage Initiated at The Goldman Sachs Group

Key Points

• Goldman Sachs has initiated coverage on Bausch + Lomb (NYSE:BLCO) with a "neutral" rating and a price target of $16.00, indicating a potential upside of 8.43% from the stock's previous close.
• Other analysts have mixed opinions with Citigroup and Wells Fargo also giving a "neutral" rating, while firms like Evercore ISI and HC Wainwright issued "outperform" and "buy" ratings respectively, with a consensus price target of $15.60.
• Bausch + Lomb reported a revenue of $1.28 billion for the quarter ending July 30th, exceeding analysts' expectations, with a 5.1% increase year-over-year.

Analysts at The Goldman Sachs Group assumed coverage on shares of Bausch + Lomb (NYSE:BLCO - Get Free Report) in a report released on Wednesday, MarketBeat reports. The brokerage set a "neutral" rating and a $16.00 price target on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 8.43% from the stock's previous close.

A number of other research firms have also recently weighed in on BLCO. Citigroup boosted their target price on shares of Bausch + Lomb from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Evercore ISI upped their price target on shares of Bausch + Lomb from $15.50 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target on shares of Bausch + Lomb from $12.00 to $15.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. HC Wainwright increased their target price on shares of Bausch + Lomb from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Barclays lowered their target price on shares of Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Monday, June 9th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Bausch + Lomb has an average rating of "Hold" and a consensus price target of $15.60.

Bausch + Lomb Trading Up 0.6%

BLCO opened at $14.76 on Wednesday. Bausch + Lomb has a 1-year low of $10.45 and a 1-year high of $21.69. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The company has a market cap of $5.22 billion, a P/E ratio of -18.92, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The company has a fifty day moving average price of $14.60 and a two-hundred day moving average price of $13.37.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Bausch + Lomb had a negative net margin of 5.58% and a positive return on equity of 2.33%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. Bausch + Lomb has set its FY 2025 guidance at EPS. Analysts predict that Bausch + Lomb will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

A number of large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in shares of Bausch + Lomb during the 1st quarter valued at about $50,750,000. Oaktree Capital Management LP bought a new stake in shares of Bausch + Lomb during the 2nd quarter valued at about $32,801,000. Glenview Capital Management LLC boosted its stake in shares of Bausch + Lomb by 210.8% during the 2nd quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company's stock valued at $20,216,000 after purchasing an additional 1,053,855 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Bausch + Lomb by 136.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 769,000 shares of the company's stock valued at $10,005,000 after purchasing an additional 444,000 shares in the last quarter. Finally, Goldentree Asset Management LP boosted its stake in shares of Bausch + Lomb by 14.9% during the 2nd quarter. Goldentree Asset Management LP now owns 2,583,185 shares of the company's stock valued at $33,524,000 after purchasing an additional 334,916 shares in the last quarter. Institutional investors own 11.07% of the company's stock.

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.