Bausch + Lomb (NYSE:BLCO) Price Target Raised to $21.00

Key Points

• HC Wainwright raised Bausch + Lomb’s price target to $21 from $20 and maintained a “Buy” rating, implying approximately 24.3% upside from the current price.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, eight rate it a Hold, and one rates it a Sell; the consensus rating is “Hold,” with an average price target of $18.75.
• Bausch + Lomb shares opened at $16.89, with a market capitalization of about $6.03 billion and a 52-week trading range of $13.09 to $18.92. Institutional investors own 11.07% of the company.

Bausch + Lomb (NYSE:BLCO - Get Free Report) had its target price raised by research analysts at HC Wainwright from $20.00 to $21.00 in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price indicates a potential upside of 24.31% from the stock's current price.

A number of other equities research analysts also recently issued reports on BLCO. Weiss Ratings raised shares of Bausch + Lomb from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 24th. UBS Group began coverage on Bausch + Lomb in a research report on Thursday. They set a "buy" rating and a $21.00 price objective on the stock. Evercore set a $17.00 target price on shares of Bausch + Lomb in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on shares of Bausch + Lomb in a research report on Thursday, April 30th. Finally, Citigroup boosted their price objective on Bausch + Lomb from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bausch + Lomb has an average rating of "Hold" and an average target price of $18.75.

Bausch + Lomb Price Performance

Shares of NYSE:BLCO opened at $16.89 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.55 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $6.03 billion, a PE ratio of -35.19, a price-to-earnings-growth ratio of 0.52 and a beta of 0.55. The firm's 50 day moving average price is $15.93 and its 200-day moving average price is $16.42. Bausch + Lomb has a twelve month low of $13.09 and a twelve month high of $18.92.

Institutional Trading of Bausch + Lomb

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Bausch + Lomb by 729.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company's stock valued at $30,000 after acquiring an additional 2,042 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Bausch + Lomb by 104.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company's stock valued at $38,000 after purchasing an additional 1,136 shares during the period. Royal Bank of Canada raised its position in Bausch + Lomb by 67.1% during the 1st quarter. Royal Bank of Canada now owns 3,657 shares of the company's stock valued at $58,000 after purchasing an additional 1,468 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Bausch + Lomb by 31.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,903 shares of the company's stock worth $101,000 after buying an additional 1,403 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in Bausch + Lomb in the third quarter worth about $170,000. Institutional investors own 11.07% of the company's stock.

Bausch + Lomb Company Profile

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.

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