Bausch + Lomb (NYSE:BLCO) Shares Gap Up to $13.60

Shares of Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $13.60, but opened at $14.40. Bausch + Lomb shares last traded at $14.44, with a volume of 261,762 shares changing hands.

Analysts Set New Price Targets

BLCO has been the topic of a number of recent research reports. Morgan Stanley raised Bausch + Lomb from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $16.00 to $18.00 in a research note on Monday. Wells Fargo & Company upped their price objective on Bausch + Lomb from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday, February 22nd. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Bausch + Lomb in a research report on Thursday. Evercore ISI upped their price objective on Bausch + Lomb from $16.50 to $17.00 and gave the company an "in-line" rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada reduced their price objective on Bausch + Lomb from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Bausch + Lomb presently has an average rating of "Moderate Buy" and a consensus target price of $19.45.

Bausch + Lomb Trading Up 6.3 %

The business has a fifty day moving average price of $15.76 and a 200 day moving average price of $15.58. The company has a market capitalization of $5.08 billion, a PE ratio of -15.04, a P/E/G ratio of 1.35 and a beta of 0.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.70.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The business's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. Analysts expect that Bausch + Lomb Co. will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

A number of large investors have recently modified their holdings of BLCO. Eminence Capital LP grew its stake in Bausch + Lomb by 11.7% during the 3rd quarter. Eminence Capital LP now owns 5,994,806 shares of the company's stock valued at $101,612,000 after purchasing an additional 626,431 shares in the last quarter. Freshford Capital Management LLC grew its stake in Bausch + Lomb by 29.8% during the 4th quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company's stock valued at $29,925,000 after purchasing an additional 403,062 shares in the last quarter. Alberta Investment Management Corp grew its stake in Bausch + Lomb by 39.1% during the 3rd quarter. Alberta Investment Management Corp now owns 1,351,793 shares of the company's stock valued at $22,913,000 after purchasing an additional 380,000 shares in the last quarter. River Road Asset Management LLC grew its stake in Bausch + Lomb by 21.6% during the 4th quarter. River Road Asset Management LLC now owns 1,938,207 shares of the company's stock valued at $33,066,000 after purchasing an additional 343,772 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. grew its stake in Bausch + Lomb by 11.5% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,220,062 shares of the company's stock valued at $54,580,000 after purchasing an additional 333,000 shares in 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.