What Happened?
Shares of eyecare company Bausch + Lomb (NYSE: BLCO) fell 10.6% in the afternoon session after the company announced the voluntary recall of intraocular lenses on its enVista platform. The recall was due to the reports of toxic anterior segment syndrome (TASS, a potential complication in any cataract surgery). The recall may raise short-term concerns regarding product safety and regulatory scrutiny. Though the company emphasized that the reported cases of TASS involved only an extremely small fraction of implanted lenses.
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What The Market Is Telling Us
Bausch + Lomb’s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. But moves this big are rare even for Bausch + Lomb and indicate this news significantly impacted the market’s perception of the business.
Bausch + Lomb is down 17.9% since the beginning of the year, and at $14.78 per share, it is trading 29.4% below its 52-week high of $20.93 from October 2024. Investors who bought $1,000 worth of Bausch + Lomb’s shares at the IPO in May 2022 would now be looking at an investment worth $739.
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