Bausch + Lomb (NYSE:BLCO) Stock Price Expected to Rise, Citigroup Analyst Says

Bausch + Lomb (NYSE:BLCO - Get Free Report) had its price objective increased by investment analysts at Citigroup from $13.00 to $15.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price target indicates a potential upside of 6.99% from the stock's previous close.

A number of other analysts have also recently issued reports on the stock. Evercore ISI increased their price objective on shares of Bausch + Lomb from $15.50 to $16.00 and gave the stock an "outperform" rating in a research note on Tuesday. HC Wainwright decreased their price objective on shares of Bausch + Lomb from $20.00 to $15.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Barclays decreased their price objective on shares of Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating for the company in a report on Monday, June 9th. Wells Fargo & Company cut their target price on shares of Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Morgan Stanley cut their price objective on shares of Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $15.75.

Bausch + Lomb Stock Performance

Shares of BLCO stock traded up $0.02 during trading on Wednesday, reaching $14.02. 569,824 shares of the company's stock traded hands, compared to its average volume of 719,343. The company has a market capitalization of $4.96 billion, a P/E ratio of -13.61, a PEG ratio of 1.56 and a beta of 0.62. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. The firm's 50-day moving average is $11.99 and its 200 day moving average is $14.36. Bausch + Lomb has a 1 year low of $10.45 and a 1 year high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. Bausch + Lomb had a negative net margin of 7.50% and a positive return on equity of 2.62%. The business's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. Equities research analysts expect that Bausch + Lomb will post 0.74 EPS for the current year.

Insider Transactions at Bausch + Lomb

In related news, CEO Brent L. Saunders bought 22,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $11.28 per share, for a total transaction of $248,160.00. Following the completion of the acquisition, the chief executive officer owned 719,156 shares in the company, valued at $8,112,079.68. This trade represents a 3.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. National Bank of Canada FI raised its holdings in Bausch + Lomb by 101.7% in the first quarter. National Bank of Canada FI now owns 6,719 shares of the company's stock valued at $97,000 after acquiring an additional 3,387 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in Bausch + Lomb in the fourth quarter valued at $181,000. Alpine Global Management LLC acquired a new stake in Bausch + Lomb in the fourth quarter valued at $181,000. Covestor Ltd acquired a new stake in Bausch + Lomb in the fourth quarter valued at $188,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Bausch + Lomb in the fourth quarter valued at $225,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.

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