Bausch + Lomb (NYSE:BLCO) Shares Gap Up to $13.60

Bausch + Lomb Co. (NYSE:BLCO) gapped up prior to trading on Monday . The stock had previously closed at $13.60, but opened at $14.40. Bausch + Lomb shares last traded at $14.44, with a volume of 261,762 shares trading hands.

Wall Street Analyst Weigh In

BLCO has been the subject of a number of research reports. Evercore ISI increased their target price on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Wells Fargo & Company upped their price target on shares of Bausch + Lomb from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Bausch + Lomb in a research note on Thursday. Morgan Stanley raised Bausch + Lomb from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $16.00 to $18.00 in a report on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.45.

Bausch + Lomb Stock Performance

The firm has a 50 day moving average of $15.76 and a 200-day moving average of $15.58. The company has a market cap of $5.07 billion, a P/E ratio of -15.04, a PEG ratio of 1.35 and a beta of 0.47. The company has a quick ratio of 1.03, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. Bausch + Lomb’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. As a group, sell-side analysts anticipate that Bausch + Lomb Co. will post 0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. TD Asset Management Inc purchased a new position in shares of Bausch + Lomb in the third quarter valued at approximately $2,752,000. Black Swift Group LLC acquired a new position in Bausch + Lomb during the third quarter worth about $170,000. Segantii Capital Management Ltd raised its holdings in Bausch + Lomb by 66.7% in the 3rd quarter. Segantii Capital Management Ltd now owns 500,000 shares of the company’s stock valued at $8,475,000 after acquiring an additional 200,000 shares during the last quarter. Jump Financial LLC purchased a new position in Bausch + Lomb during the third quarter worth approximately $255,000. Finally, Gabelli Funds LLC increased its stake in shares of Bausch + Lomb by 2.3% in the 3rd quarter. Gabelli Funds LLC now owns 263,744 shares of the company’s stock worth $4,470,000 after acquiring an additional 6,017 shares during the last quarter. Institutional investors and hedge funds own 11.07% of the company’s stock.

About Bausch + Lomb

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.