HC Wainwright Boosts Bausch + Lomb (NYSE:BLCO) Price Target to $22.00

Bausch + Lomb (NYSE:BLCO) had its target price boosted by research analysts at HC Wainwright from $19.00 to $22.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 11.56% from the company’s current price.

Several other analysts also recently weighed in on the company. Stifel Nicolaus upped their price target on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday. Evercore ISI lifted their target price on Bausch + Lomb from $15.00 to $15.50 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Bausch + Lomb in a research note on Thursday, August 1st. Evercore raised their price objective on Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.14.

Bausch + Lomb Trading Down 1.2 %

Shares of NYSE:BLCO traded down $0.24 during mid-day trading on Monday, hitting $19.72. The company had a trading volume of 841,010 shares, compared to its average volume of 561,756. Bausch + Lomb has a one year low of $13.16 and a one year high of $21.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. The company has a market capitalization of $6.94 billion, a PE ratio of -20.55, a price-to-earnings-growth ratio of 1.47 and a beta of 0.46. The firm has a fifty day moving average price of $16.46 and a 200 day moving average price of $15.69.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds have recently bought and sold shares of the business. Clearline Capital LP boosted its holdings in shares of Bausch + Lomb by 136.8% in the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after buying an additional 411,404 shares in the last quarter. Freshford Capital Management LLC grew 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 acquiring an additional 403,062 shares in the last quarter. Invenomic Capital Management LP purchased a new position in Bausch + Lomb during the 1st quarter worth approximately $6,817,000. Whitebox Advisors LLC raised its position in Bausch + Lomb by 28.2% during the 2nd quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after buying an additional 339,643 shares during the last quarter. Finally, Rokos Capital Management LLP acquired a new position in Bausch + Lomb during the first quarter worth about $5,602,000. Hedge funds and other 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.