Bausch + Lomb’s (BLCO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Bausch + Lomb (NYSE:BLCO) in a research note published on Tuesday,Benzinga reports. The firm currently has a $23.00 price objective on the stock.

BLCO has been the subject of a number of other reports. Wells Fargo & Company lowered their price objective on shares of Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Morgan Stanley cut 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. Royal Bank of Canada decreased their price target on shares of Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Finally, Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $24.00 to $22.00 in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.25.

Bausch + Lomb Price Performance

BLCO stock opened at $16.40 on Tuesday. The company has a 50 day simple moving average of $17.51 and a 200 day simple moving average of $18.16. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of -15.61, a P/E/G ratio of 2.13 and a beta of 0.46. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.69. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors have recently modified their holdings of the company. Alpine Global Management LLC bought a new stake in shares of Bausch + Lomb in the 4th quarter valued at $181,000. Tang Capital Management LLC boosted its stake in Bausch + Lomb by 28.6% during the fourth quarter. Tang Capital Management LLC now owns 450,000 shares of the company’s stock worth $8,127,000 after acquiring an additional 100,000 shares in the last quarter. Polar Asset Management Partners Inc. boosted its stake in Bausch + Lomb by 120.4% during the fourth quarter. Polar Asset Management Partners Inc. now owns 33,062 shares of the company’s stock worth $597,000 after acquiring an additional 18,062 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bausch + Lomb by 34.5% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 52,460 shares of the company’s stock worth $947,000 after acquiring an additional 13,460 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Bausch + Lomb during the fourth quarter worth $735,000. 11.07% of the stock is owned by institutional investors.

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.