HC Wainwright Raises Bausch + Lomb (NYSE:BLCO) Price Target to $23.00

Bausch + Lomb (NYSE:BLCO) had its price target hoisted by equities researchers at HC Wainwright from $22.00 to $23.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 12.14% from the company’s previous close.

Several other analysts have also recently issued reports on BLCO. Evercore upped their price objective on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Raymond James initiated coverage on Bausch + Lomb in a report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 target price on the stock. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and raised their target price for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price target on Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.91.

Bausch + Lomb Stock Up 1.1 %

Shares of BLCO opened at $20.51 on Thursday. The firm has a market cap of $7.22 billion, a P/E ratio of -19.53, a P/E/G ratio of 1.90 and a beta of 0.48. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.69. The stock has a 50 day simple moving average of $18.61 and a two-hundred day simple moving average of $16.45.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.16% and a negative net margin of 7.86%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. On average, analysts forecast that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders purchased 32,250 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $15.66 per share, with a total value of $505,035.00. Following the completion of the acquisition, the chief executive officer now directly owns 595,169 shares in the company, valued at $9,320,346.54. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Bausch + Lomb

A number of hedge funds have recently modified their holdings of the business. Point72 Europe London LLP raised its stake in shares of Bausch + Lomb by 28.9% in the second quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after buying an additional 146,583 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Bausch + Lomb during the 2nd quarter worth approximately $580,000. Clearline Capital LP lifted its holdings in Bausch + Lomb by 136.8% during the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after purchasing an additional 411,404 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Bausch + Lomb by 25.0% in the second quarter. Gabelli Funds LLC now owns 390,000 shares of the company’s stock worth $5,663,000 after purchasing an additional 78,000 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Bausch + Lomb in the second quarter worth $1,911,000. Institutional investors 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.