Craig Bijou, an analyst from Bank of America Securities, maintained the Sell rating on Bausch + Lomb Corporation (BLCO – Research Report). The associated price target remains the same with $17.00.
Craig Bijou has given his Sell rating due to a combination of factors impacting Bausch + Lomb Corporation. The company recently announced a voluntary recall of its enVista intraocular lenses, including key growth products Aspire and Envy, due to reports of toxic anterior segment syndrome. This recall is expected to negatively affect the company’s financial performance in the first quarter and potentially lead to lower guidance for the full year 2025.
Premium intraocular lenses were a significant growth driver for Bausch + Lomb, contributing notably to their revenue and growth in the previous year. The removal of these products from the market is likely to hinder the company’s growth trajectory. Additionally, the recall presents an opportunity for competitors like RxSight to capture market share, further challenging Bausch + Lomb’s position. These factors collectively underpin Craig Bijou’s decision to maintain an Underperform rating for the stock.
BLCO’s price has also changed moderately for the past six months – from $18.950 to $15.000, which is a -20.84% drop .