Bausch + Lomb (NYSE:BLCO) Given New $13.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised its target price for Bausch + Lomb stock from $12.00 to $13.00, indicating a potential downside of 3.18% from its previous close, and maintains an "equal weight" rating on the stock.
• In related analyst updates, multiple firms adjusted their price targets for Bausch + Lomb, with Royal Bank of Canada lowering it from $18.00 to $17.00, while Wells Fargo raised its target from $12.00 to $15.00.
• CEO Brent L. Saunders purchased 22,000 shares of Bausch + Lomb at an average price of $11.28, increasing his ownership stake to approximately 719,156 shares valued at $8.11 million.

Bausch + Lomb (NYSE:BLCO - Get Free Report) had its target price lifted by equities research analysts at Morgan Stanley from $12.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential downside of 10.34% from the company's previous close.

Several other equities research analysts have also commented on BLCO. Needham & Company LLC reaffirmed a "hold" rating on shares of Bausch + Lomb in a research report on Thursday, April 24th. Stifel Nicolaus decreased their price target on shares of Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating on the stock in a research note on Thursday, April 3rd. Evercore ISI increased their price objective on shares of Bausch + Lomb from $15.50 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Barclays lowered their price target on Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. Finally, HC Wainwright raised their price target on Bausch + Lomb from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Bausch + Lomb presently has an average rating of "Hold" and an average price target of $15.56.

Bausch + Lomb Stock Up 5.7%

Bausch + Lomb stock traded up $0.78 during mid-day trading on Friday, hitting $14.50. The company had a trading volume of 2,220,297 shares, compared to its average volume of 805,655. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The stock's 50 day moving average price is $12.95 and its two-hundred day moving average price is $13.84. Bausch + Lomb has a 12 month low of $10.45 and a 12 month high of $21.69. The company has a market capitalization of $5.13 billion, a PE ratio of -18.59, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Bausch + Lomb had a positive return on equity of 2.33% and a negative net margin of 5.58%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. As a group, sell-side analysts anticipate that Bausch + Lomb will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders purchased 22,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $11.28 per share, with a total value 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. The trade was a 3.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors and hedge funds have recently modified their holdings of BLCO. Deutsche Bank AG purchased a new stake in shares of Bausch + Lomb during the first quarter worth approximately $50,750,000. Price T Rowe Associates Inc. MD acquired a new stake in Bausch + Lomb during the 4th quarter worth approximately $14,122,000. Allianz Asset Management GmbH lifted its holdings in shares of Bausch + Lomb by 136.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 769,000 shares of the company's stock valued at $10,005,000 after buying an additional 444,000 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Bausch + Lomb by 51.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock worth $21,996,000 after purchasing an additional 414,138 shares during the last quarter. Finally, King Street Capital Management L.P. raised its holdings in shares of Bausch + Lomb by 55.2% in the fourth quarter. King Street Capital Management L.P. now owns 1,136,321 shares of the company's stock worth $20,522,000 after acquiring an additional 404,256 shares during the last quarter. Institutional investors and hedge funds 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.