Bausch + Lomb (NYSE:BLCO) Given New $22.00 Price Target at HC Wainwright

Bausch + Lomb (NYSE:BLCO) had its target price increased by HC Wainwright from $19.00 to $22.00 in a report published on Monday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on BLCO. Needham & Company LLC reiterated a hold rating on shares of Bausch + Lomb in a report on Monday, September 16th. Evercore boosted their target price on Bausch + Lomb from $15.50 to $17.00 and gave the stock an in-line rating in a report on Thursday, August 1st. Royal Bank of Canada reissued an outperform rating and set a $20.00 target price on shares of Bausch + Lomb in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a hold rating in a research report on Thursday, August 1st. Finally, Raymond James initiated coverage on shares of Bausch + Lomb in a research report on Wednesday, July 10th. They issued an outperform rating and a $19.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $19.14.

Bausch + Lomb Trading Up 0.1 %

Shares of BLCO stock opened at $19.04 on Monday. The firm’s 50-day simple moving average is $16.67 and its 200-day simple moving average is $15.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. Bausch + Lomb has a 1-year low of $13.16 and a 1-year high of $21.00. The firm has a market cap of $6.70 billion, a P/E ratio of -19.83, a PEG ratio of 1.81 and a beta of 0.46.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $0.18 earnings per share. Bausch + Lomb’s revenue was up 17.5% on a year-over-year basis. As a group, equities analysts forecast that Bausch + Lomb will post 0.6 EPS for the current year.

Insider Activity

In other news, CEO Brent L. Saunders acquired 32,250 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $15.66 per share, for a total transaction of $505,035.00. Following the acquisition, the chief executive officer now directly owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of Bausch + Lomb

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in Bausch + Lomb by 14,052.2% in the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after acquiring an additional 3,232 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Bausch + Lomb during the second quarter worth about $173,000. Fore Capital LLC acquired a new position in Bausch + Lomb in the first quarter worth about $384,000. Renaissance Capital LLC increased its holdings in Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after buying an additional 669 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Bausch + Lomb during the second quarter valued at approximately $580,000. 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.