Bausch + Lomb (NYSE:BLCO) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Bausch + Lomb (NYSE:BLCO) in a report issued on Thursday,Benzinga reports. HC Wainwright currently has a $23.00 price objective on the stock.

BLCO has been the subject of several other reports. Stifel Nicolaus boosted their price objective on Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Wells Fargo & Company lifted their price target on Bausch + Lomb from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Evercore ISI raised Bausch + Lomb from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $19.00 to $25.00 in a research report on Tuesday, October 15th. Finally, Citigroup downgraded shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $24.00 to $22.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bausch + Lomb has a consensus rating of “Hold” and a consensus price target of $20.58.

Bausch + Lomb Trading Up 2.5 %

NYSE:BLCO opened at $18.62 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. The business’s 50-day moving average price is $19.88 and its two-hundred day moving average price is $17.48. Bausch + Lomb has a 1-year low of $13.16 and a 1-year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, research analysts expect that Bausch + Lomb will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BLCO. River Road Asset Management LLC increased its stake in shares of Bausch + Lomb by 4.4% during the third quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock worth $38,974,000 after purchasing an additional 85,987 shares during the period. Quadrature Capital Ltd acquired a new stake in Bausch + Lomb in the 3rd quarter worth about $526,000. Point72 Europe London LLP grew its position in shares of Bausch + Lomb by 28.9% during the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after purchasing an additional 146,583 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Bausch + Lomb in the second quarter valued at approximately $580,000. Finally, Clearline Capital LP increased its stake in Bausch + Lomb by 136.8% during the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after acquiring an additional 411,404 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

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.