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Brent Saunders, CEO and Chairman of the Board at Bausch & Lomb Corp (NYSE:BLCO), has increased his stake in the company with a significant purchase. On May 22, Saunders acquired 22,000 common shares at an average price of $11.276 per share, amounting to a total investment of approximately $248,072. This transaction brings his total holdings to 719,156 shares.
Additionally, Saunders received 22,000 matching restricted share units (MRSUs) as part of the company’s matching share program, linked to his open market purchase. These MRSUs will vest over three years, contingent on his continued service with the company. InvestingPro subscribers can access 7 additional key insights about BLCO, including detailed analysis of insider transactions and comprehensive Fair Value assessments, helping investors make more informed decisions.
In other recent news, Bausch & Lomb Corporation reported its first-quarter earnings, showing a revenue of $1.14 billion, which was slightly below the expected $1.15 billion. The company also posted an earnings per share (EPS) of -$0.07, missing the forecasted $0.02. Despite these figures, Bausch & Lomb has raised its full-year revenue guidance to a range of $5.0 to $5.1 billion. The company announced a voluntary recall of its Envista lenses, impacting revenue by approximately $55 million and adjusted EBITDA by $65 million. Analyst Yi Chen from H.C. Wainwright adjusted the company’s stock price target to $15.00 from $20.00 but maintained a Buy rating, citing uncertainties around tariffs. Additionally, Bausch & Lomb introduced Zenlens CHROMA HOA scleral contact lenses in the U.S., designed to improve vision by correcting higher-order aberrations. The company also successfully elected 10 directors at its recent Annual Meeting of Shareholders and appointed PricewaterhouseCoopers LLP as its auditor until 2026.
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