5 Best New Stocks to Buy According to Hedge Funds

3. Bausch + Lomb Corporation (NYSE:BLCO)

Number of Hedge Fund Holders: 19     

Bausch + Lomb Corporation (NYSE:BLCO) operates as an eye health company worldwide. It is one of the major IPO stocks to invest in. On September 6, the firm revealed that the US Food and Drug Administration had accepted a New Drug Application filing for investigational treatment NOV03 or perfluorohexyloctane. NOV03 is an investigation therapy to treat the signs and symptoms for dry eye disease. 

On September 12, H.C. Wainwright analyst Yi Chen initiated coverage of Bausch + Lomb Corporation (NYSE:BLCO) stock with a Buy rating and a $21 price target, noting that the company was expected to grow 4%-5% organically in sales.

At the end of the second quarter of 2022, 19 hedge funds in the database of Insider Monkey held stakes worth $304.8 million in Bausch + Lomb Corporation (NYSE:BLCO).