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

Key Points

• Evercore ISI has raised its price target for Bausch + Lomb stock from $16.50 to $17.00, indicating a potential upside of 15.22% based on the company's previous close.
• The stock currently has an average target price of $15.70, with three analysts rating it as a Buy, eight as Hold, and two as Sell.
• Bausch + Lomb reported earnings of $0.07 per share for the last quarter, surpassing analyst expectations and showing a 5.1% increase in revenue compared to the same quarter last year.

Bausch + Lomb (NYSE:BLCO - Get Free Report) had its price target increased by equities researchers at Evercore ISI from $16.50 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's price target would suggest a potential upside of 15.22% from the company's previous close.

A number of other brokerages have also recently issued reports on BLCO. The Goldman Sachs Group initiated coverage on shares of Bausch + Lomb in a report on Wednesday, October 1st. They issued a "neutral" rating and a $16.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Bausch + Lomb in a report on Saturday, September 27th. Morgan Stanley upped their price objective on Bausch + Lomb from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. HC Wainwright raised their target price on Bausch + Lomb from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Citigroup reissued a "neutral" rating on shares of Bausch + Lomb in a report on Tuesday. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $15.70.

Bausch + Lomb Stock Performance

Shares of BLCO stock traded down $0.14 on Tuesday, hitting $14.76. 70,767 shares of the stock traded hands, compared to its average volume of 744,193. The company's fifty day moving average is $14.63 and its 200 day moving average is $13.33. Bausch + Lomb has a 1-year low of $10.45 and a 1-year high of $21.69. The company has a market capitalization of $5.22 billion, a PE ratio of -18.91, a PEG ratio of 1.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.55 and a quick ratio of 0.98.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Bausch + Lomb had a negative net margin of 5.58% and a positive return on equity of 2.33%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. Bausch + Lomb has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Bausch + Lomb will post 0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors have recently bought and sold shares of BLCO. Goldman Sachs Group Inc. boosted its holdings in shares of Bausch + Lomb by 428.7% in the first quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company's stock worth $4,345,000 after buying an additional 242,993 shares during the period. Allianz Asset Management GmbH purchased a new position in Bausch + Lomb during the 1st quarter valued at about $4,712,000. Vident Advisory LLC purchased a new position in Bausch + Lomb during the 1st quarter valued at about $289,000. Clearline Capital LP increased its holdings in shares of Bausch + Lomb by 38.2% in the 1st quarter. Clearline Capital LP now owns 893,790 shares of the company's stock valued at $12,960,000 after purchasing an additional 247,149 shares during the period. Finally, Nexpoint Asset Management L.P. lifted its position in shares of Bausch + Lomb by 147.6% in the first quarter. Nexpoint Asset Management L.P. now owns 50,158 shares of the company's stock worth $727,000 after purchasing an additional 29,900 shares in the last quarter. Hedge funds and other 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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