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

Bausch + Lomb (NYSE:BLCO) had its target price hoisted by HC Wainwright from $19.00 to $22.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 11.56% from the stock’s current price.

Other analysts have also issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of Bausch + Lomb in a research report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research report on Monday, September 16th. Evercore ISI raised their price objective on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Finally, Raymond James began coverage on Bausch + Lomb in a report on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 target price for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Bausch + Lomb currently has an average rating of “Moderate Buy” and a consensus target price of $19.14.

Bausch + Lomb Price Performance

Bausch + Lomb stock traded down $0.24 during midday trading on Monday, reaching $19.72. The company’s stock had a trading volume of 841,010 shares, compared to its average volume of 561,756. The firm has a market capitalization of $6.94 billion, a PE ratio of -20.55, a P/E/G ratio of 1.47 and a beta of 0.46. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.65. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.00. The stock’s 50 day simple moving average is $16.46 and its 200 day simple moving average is $15.69.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) 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 period last year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts forecast that Bausch + Lomb will post 0.6 earnings per share for the current year.

Insider Activity at Bausch + Lomb

In related news, CEO Brent L. Saunders bought 32,250 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired 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 owns 595,169 shares in the company, valued at approximately $9,320,346.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Bausch + Lomb

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearline Capital LP boosted its position 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. Freshford Capital Management LLC lifted its stake in Bausch + Lomb by 29.8% in the fourth quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock valued at $29,925,000 after acquiring an additional 403,062 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of Bausch + Lomb during the 1st quarter worth about $6,817,000. Whitebox Advisors LLC grew its stake in shares of Bausch + Lomb by 28.2% in the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after acquiring an additional 339,643 shares during the last quarter. Finally, Rokos Capital Management LLP bought a new position in Bausch + Lomb during the first quarter worth about $5,602,000. 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.