HC Wainwright Reiterates Buy Rating for Bausch + Lomb (NYSE:BLCO)

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

Several other brokerages have also recently weighed in on BLCO. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Royal Bank of Canada increased their target price 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 increased their target price on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, Morgan Stanley downgraded Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price target for the company. in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bausch + Lomb presently has an average rating of “Hold” and an average price target of $20.58.

Bausch + Lomb Stock Up 2.5 %

NYSE:BLCO opened at $18.62 on Thursday. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.69. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The stock’s 50-day simple moving average is $19.88 and its 200 day simple moving average is $17.48.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share 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 the consensus estimate 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 revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. Equities analysts predict that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. King Street Capital Management L.P. bought a new stake in shares of Bausch + Lomb during the 3rd quarter valued at about $14,122,000. Clearline Capital LP raised its position in Bausch + Lomb by 136.8% during the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after purchasing an additional 411,404 shares in the last quarter. Whitebox Advisors LLC lifted its stake in Bausch + Lomb by 28.2% during the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after purchasing an additional 339,643 shares during the last quarter. Barclays PLC purchased a new position in shares of Bausch + Lomb in the 3rd quarter worth about $5,797,000. Finally, Point72 DIFC Ltd bought a new stake in Bausch + Lomb in the 3rd quarter worth approximately $4,331,000. Institutional investors 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.