HC Wainwright Increases Bausch + Lomb (NYSE:BLCO) Price Target to $23.00

Bausch + Lomb (NYSE:BLCO) had its target price raised by HC Wainwright from $22.00 to $23.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on BLCO. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their price target on shares of Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted their target price on shares of Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a report on Monday, September 16th. Finally, Evercore boosted their target price on Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bausch + Lomb has an average rating of “Moderate Buy” and an average price target of $20.91.

Bausch + Lomb Price Performance

Shares of BLCO stock opened at $20.28 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.65. The firm’s 50 day moving average price is $18.52 and its 200-day moving average price is $16.41. Bausch + Lomb has a one year low of $13.16 and a one year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.16% and a negative net margin of 7.86%. Bausch + Lomb’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. On average, research analysts forecast that Bausch + Lomb will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brent L. Saunders acquired 32,250 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $15.66 per share, with a total value of $505,035.00. Following the completion of the acquisition, the chief executive officer now owns 595,169 shares of the company’s stock, valued at $9,320,346.54. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Bausch + Lomb

A number of large investors have recently bought and sold shares of BLCO. River Road Asset Management LLC raised its holdings in shares of Bausch + Lomb by 4.4% in the third quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock valued at $38,974,000 after buying an additional 85,987 shares during the last quarter. Renaissance Capital LLC grew its position in Bausch + Lomb by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 43,560 shares of the company’s stock valued at $840,000 after buying an additional 7,274 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Bausch + Lomb in the 2nd quarter worth $580,000. Point72 Asset Management L.P. raised its holdings in Bausch + Lomb by 31.0% during the second quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock worth $9,397,000 after purchasing an additional 153,000 shares in the last quarter. Finally, Clearline Capital LP increased 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 purchasing an additional 411,404 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.