10 Most Undervalued Canadian Stocks to Buy According to Wall Street Analysts

6. Bausch + Lomb Corp. (NYSE:BLCO)

Forward P/E Ratio as of April 21: 13.26

Number of Hedge Fund Holders: 34

Average Upside Potential as of April 21: 49.25%

Bausch + Lomb Corp. (NYSE:BLCO) is an eye health company that operates in three segments: Vision Care, Pharmaceuticals, and Surgical. It sells its products and services through direct sales forces and independent distributors.

During Q4 2024, Bausch + Lomb’s Vision Care segment achieved a notable revenue of $723 million, which marked an 11% increase year-over-year. Examining the entire FY2024, the Vision Care segment delivered $2.739 billion in revenue, which showed a 10% growth on an annual basis. This is a result of the contributions from both its consumer and contact lens businesses. The consumer eye care business experienced a healthy 10% revenue increase in Q4.

This growth is driven by the LUMIFY redness reliever, which saw a 24% growth, and the dry eye portfolio, which collectively grew by 20%. Bausch + Lomb Corp. (NYSE:BLCO) is focused on sustained growth within its Vision Care segment through continuous innovation. A key area of focus is the Daily SiHy lens category, where the company plans to improve its performance by introducing new options, such as multifocal and toric designs.