Bausch + Lomb (NYSE:BLCO) Stock Rating Reaffirmed by HC Wainwright

Bausch + Lomb (NYSE:BLCO)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $20.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 45.56% from the company’s current price.

Several other equities analysts have also issued reports on BLCO. Royal Bank of Canada reduced their target price on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Evercore reduced their target price on Bausch + Lomb from $17.00 to $16.50 and set an “in-line” rating for the company in a report on Thursday, February 22nd. Evercore ISI upped their price objective on Bausch + Lomb from $16.50 to $17.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research note on Wednesday. Finally, Barclays upped their price objective on Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.41.

Bausch + Lomb Stock Performance

BLCO stock opened at $13.74 on Thursday. The firm has a market cap of $4.83 billion, a PE ratio of -18.57, a P/E/G ratio of 1.40 and a beta of 0.47. The company has a quick ratio of 1.09, a current ratio of 1.74 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average of $15.97 and a 200-day moving average of $15.65. Bausch + Lomb has a 12-month low of $13.62 and a 12-month high of $21.95.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, February 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.07. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. Bausch + Lomb had a positive return on equity of 3.70% and a negative net margin of 6.27%. Bausch + Lomb’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. As a group, sell-side analysts expect that Bausch + Lomb will post 0.65 earnings per share for the current year.

Institutional Investors Weigh In On Bausch + Lomb

Several institutional investors have recently made changes to their positions in the stock. Eminence Capital LP lifted its position in shares of Bausch + Lomb by 11.7% during the third quarter. Eminence Capital LP now owns 5,994,806 shares of the company’s stock worth $101,612,000 after acquiring an additional 626,431 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of Bausch + Lomb by 11.5% in the third quarter. Maple Rock Capital Partners Inc. now owns 3,220,062 shares of the company’s stock worth $54,580,000 after buying an additional 333,000 shares in the last quarter. River Road Asset Management LLC raised its position in shares of Bausch + Lomb by 21.6% in the fourth quarter. River Road Asset Management LLC now owns 1,938,207 shares of the company’s stock worth $33,066,000 after buying an additional 343,772 shares in the last quarter. Freshford Capital Management LLC raised its position in shares of Bausch + Lomb by 29.8% in the fourth quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock worth $29,925,000 after buying an additional 403,062 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of Bausch + Lomb by 39.1% in the third quarter. Alberta Investment Management Corp now owns 1,351,793 shares of the company’s stock worth $22,913,000 after buying an additional 380,000 shares in the last quarter. 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.