Bausch & Lomb Corp
BLCO: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$32.00 | Lvltpx | Fsnndkkz |
Bausch & Lomb Earnings: Solid Demand for Lenses and Consumables Continues to Fuel Growth
Narrow-moat Bausch & Lomb reported better-than-expected third-quarter results. Total sales were up 6.9% year over year thanks to strong demand and a healthy product mix. Milestones in the quarter include the closing of Xiidra deal (dry-eye drug from Novartis) and the launch of Miebo (the first and only U.S. Food and Drug Administration-approved treatment for dry-eye disease that directly targets tear evaporation). We maintain our fair value estimate of $26 (CAD 34.50) per share.