H.C. Wainwright increased its 12-month price target for Bausch + Lomb Corporation (NYSE: BLCO) to $20 from $17 and maintained a Buy recommendation, citing a quarterly performance that outpaced the firm’s estimates and management guidance that implies mid-single-digit top-line growth for fiscal 2026.
The company reported fourth-quarter 2025 revenue of $1.405 billion, up 9.8% year-over-year and above H.C. Wainwright’s forecast of $1.390 billion. Adjusted net income for the quarter was $115 million, or $0.32 per share, compared with the firm’s estimate of $0.31 per share.
Revenue expanded across each of Bausch + Lomb’s three reporting segments in the fourth quarter. Vision Care produced $778 million in revenue, an 8% increase year-over-year. Surgical revenue climbed to $249 million, also an 8% year-over-year rise. Pharmaceuticals led the group with $378 million, a 16% increase versus the prior year.
On a full-year basis, total 2025 revenue reached $5.101 billion, a 6.5% increase from 2024. Adjusted net income for the year was $152 million, or $0.43 per share, narrowly topping the firm’s projection of $0.42 per share. The company recorded a net loss of $360 million, or $1.02 per share, for the full year.
Management provided guidance for 2026 that targets total revenue between $5.375 billion and $5.475 billion, which the company says corresponds to 5% to 7% constant currency growth. The guidance also includes an adjusted EBITDA range of $1.0 billion to $1.05 billion.
Other broker commentary and company disclosures released alongside the quarter add nuance to the quarter’s results. Bausch + Lomb reported fourth-quarter revenue growth of 6.9% in constant currency, a touch below the Street’s 7.4% expectation. The Contact Lenses segment delivered 8% growth in constant currency, beating the Street’s 7% projection.
Product-level detail showed Miebo generating $112 million in sales for the period, exceeding Stifel’s estimate of $80 million. Despite the top-line beats, the company’s quarterly earnings missed analyst projections in aggregate.
On the broker front, Stifel adjusted its view modestly, raising its price target on Bausch + Lomb shares from $15 to $16 while keeping a Hold rating.
The combination of a broker that raised its price target and a second broker that adjusted its target while keeping a more cautious rating underscores differing assessments of near-term earnings execution relative to durable revenue momentum across the company’s franchises.
Investors focused on sector-level implications will note the company’s balanced revenue performance across Vision Care, Surgical and Pharmaceuticals, and management’s revenue and EBITDA ranges for 2026 that imply continued mid-single-digit growth. These items will be central to ongoing assessments of the company’s pricing and distribution traction, margin recovery and earnings conversion.
For investors seeking additional structured research, Bausch + Lomb is listed among more than 1,400 U.S. stocks covered in comprehensive Pro Research Reports that offer further analysis.