Bausch + Lomb (NYSE:BLCO - Get Free Report) was upgraded by equities research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm currently has a $18.00 price objective on the stock, up from their previous price objective of $16.00. Morgan Stanley's price target would suggest a potential upside of 24.57% from the stock's current price.
Other research analysts have also issued research reports about the stock. Royal Bank of Canada reduced 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 note on Monday, April 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Bausch + Lomb in a research note on Wednesday, May 1st. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Bausch + Lomb in a research note on Thursday. Evercore ISI raised their target price on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an "in-line" rating in a research note on Thursday, April 4th. Finally, Evercore reduced their target price on shares of Bausch + Lomb from $17.00 to $15.00 and set an "in-line" rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $19.45.
Read Our Latest Stock Analysis on BLCO
Bausch + Lomb Price Performance
NYSE:BLCO traded up $0.85 during mid-day trading on Monday, reaching $14.45. 1,496,352 shares of the company were exchanged, compared to its average volume of 502,297. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.95. The company has a fifty day moving average of $15.76 and a 200 day moving average of $15.58. The company has a quick ratio of 1.03, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The stock has a market cap of $5.08 billion, a PE ratio of -15.04, a PEG ratio of 1.35 and a beta of 0.47.
Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued 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). Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned $0.10 EPS. The firm's revenue was up 18.0% compared to the same quarter last year. On average, research analysts anticipate that Bausch + Lomb will post 0.66 EPS for the current fiscal year.
Institutional Trading of Bausch + Lomb
A number of hedge funds have recently modified their holdings of the company. Eminence Capital LP raised its holdings in Bausch + Lomb by 11.7% during the 3rd quarter. Eminence Capital LP now owns 5,994,806 shares of the company's stock worth $101,612,000 after buying an additional 626,431 shares during the period. Maple Rock Capital Partners Inc. raised its holdings 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 worth $54,580,000 after buying an additional 333,000 shares during the period. River Road Asset Management LLC raised its holdings 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 worth $33,066,000 after buying an additional 343,772 shares during the period. Freshford Capital Management LLC raised its holdings 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 worth $29,925,000 after buying an additional 403,062 shares during the period. Finally, Alberta Investment Management Corp raised its holdings 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 worth $22,913,000 after buying an additional 380,000 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.
About Bausch + Lomb
(
Get Free Report)
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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