HC Wainwright Reiterates Buy Rating for Bausch + Lomb (NYSE:BLCO)

HC Wainwright reiterated their buy rating on shares of Bausch + Lomb (NYSE:BLCO - Free Report) in a report issued on Thursday morning, Benzinga reports. HC Wainwright currently has a $20.00 price target on the stock.

A number of other equities analysts have also issued reports on BLCO. Barclays boosted their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an equal weight rating in a research report on Monday, February 26th. Evercore dropped their target price on shares of Bausch + Lomb from $17.00 to $16.50 and set an in-line rating on the stock in a research report on Thursday, February 22nd. Needham & Company LLC reaffirmed a hold rating on shares of Bausch + Lomb in a research report on Wednesday. Royal Bank of Canada dropped their target price on shares of Bausch + Lomb from $20.00 to $18.00 and set an outperform rating on the stock in a research report on Monday, April 22nd. Finally, Evercore ISI boosted their target price on shares of Bausch + Lomb from $16.50 to $17.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $19.27.

Bausch + Lomb Stock Performance

Shares of NYSE:BLCO traded up $0.12 during trading on Thursday, reaching $13.86. The stock had a trading volume of 1,157,594 shares, compared to its average volume of 490,238. Bausch + Lomb has a 52 week low of $13.16 and a 52 week high of $21.95. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -18.73, a P/E/G ratio of 1.40 and a beta of 0.47. The company has a quick ratio of 1.09, a current ratio of 1.74 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $15.91 and a two-hundred day simple moving average of $15.64.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $0.10 EPS. The company's revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, analysts anticipate that Bausch + Lomb will post 0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in shares of Bausch + Lomb in the 3rd quarter valued at $466,000. River Road Asset Management LLC boosted its stake in shares of Bausch + Lomb by 21.6% in 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. Black Swift Group LLC acquired a new stake in shares of Bausch + Lomb in the 3rd quarter valued at $170,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Bausch + Lomb in the 3rd quarter valued at $5,091,000. Finally, TD Asset Management Inc acquired a new stake in shares of Bausch + Lomb in the 3rd quarter valued at $2,752,000. 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.