Bausch + Lomb (NYSE:BLCO) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Bausch + Lomb (NYSE:BLCO) in a research report report published on Thursday,Benzinga reports. They currently have a $23.00 price target on the stock.

BLCO has been the subject of a number of other reports. Morgan Stanley downgraded shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Wells Fargo & Company upped their price objective on Bausch + Lomb from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their target price on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.58.

Bausch + Lomb Price Performance

Shares of NYSE BLCO opened at $18.60 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57. The firm’s 50-day simple moving average is $19.87 and its 200 day simple moving average is $17.52. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -17.71, a PEG ratio of 1.74 and a beta of 0.43. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.69.

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

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 3,232 shares in the last quarter. Squarepoint Ops LLC bought a new position in Bausch + Lomb in the 2nd quarter worth about $173,000. Polar Asset Management Partners Inc. purchased a new position in Bausch + Lomb during the 3rd quarter valued at about $289,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Bausch + Lomb in the third quarter worth about $289,000. Finally, Verition Fund Management LLC bought a new position in shares of Bausch + Lomb in the third quarter valued at approximately $302,000. Institutional investors 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.