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

Key Points

• HC Wainwright has raised its target price for Bausch + Lomb from $15.00 to $16.00, suggesting a potential upside of 19.09% from its current price.
• The stock currently has an average rating of "Hold" from analysts and has experienced mixed responses, with one sell rating, eight hold ratings, and three buy ratings.
• Bausch + Lomb reported a earnings per share of $0.07 for the last quarter, exceeding analysts' expectations, and its revenue increased by 5.1% year-over-year to $1.28 billion.

Bausch + Lomb (NYSE:BLCO - Get Free Report) had its target price upped by stock analysts at HC Wainwright from $15.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 19.09% from the stock's current price.

A number of other research firms have also commented on BLCO. Barclays dropped their price objective on Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Monday, June 9th. Morgan Stanley reduced their target price on Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Royal Bank Of Canada reduced their target price on Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Citigroup upped their price objective on Bausch + Lomb from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $15.82.

Bausch + Lomb Price Performance

Shares of NYSE BLCO traded down $0.28 during mid-day trading on Thursday, reaching $13.44. The company had a trading volume of 673,122 shares, compared to its average volume of 791,057. The stock has a market cap of $4.75 billion, a PE ratio of -13.00, a P/E/G ratio of 1.65 and a beta of 0.62. The company has a 50-day moving average price of $12.80 and a two-hundred day moving average price of $13.96. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. 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 released its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. Bausch + Lomb had a positive return on equity of 2.62% and a negative net margin of 7.50%. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter last year, the firm earned $0.13 earnings per share. The business's revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Bausch + Lomb will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders purchased 22,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $11.28 per share, for a total transaction of $248,160.00. Following the completion of the transaction, the chief executive officer owned 719,156 shares in the company, valued at approximately $8,112,079.68. This represents a 3.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.76% of the company's stock.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of Bausch + Lomb during the 4th quarter worth approximately $372,000. Allianz Asset Management GmbH purchased a new position in shares of Bausch + Lomb during the first quarter valued at about $4,712,000. Tabor Asset Management LP bought a new stake in Bausch + Lomb during the first quarter worth about $338,000. Orion Portfolio Solutions LLC bought a new position in shares of Bausch + Lomb in the fourth quarter worth approximately $225,000. Finally, Commonwealth Equity Services LLC bought a new position in Bausch + Lomb during the fourth quarter valued at approximately $181,000. 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.

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