HC Wainwright Forecasts Strong Price Appreciation for Bausch + Lomb (NYSE:BLCO) Stock

Bausch + Lomb (NYSE:BLCO) had its price objective hoisted by equities researchers at HC Wainwright from $22.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 12.14% from the company’s current price.

Other equities analysts have also issued reports about the stock. Evercore raised their target price on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a research report on Thursday, August 1st. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $19.00 to $25.00 in a report on Tuesday, October 15th. Royal Bank of Canada upped their target price on Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Monday, September 16th. Finally, Raymond James assumed coverage on shares of Bausch + Lomb in a report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.91.

Bausch + Lomb Stock Performance

Shares of NYSE:BLCO opened at $20.51 on Thursday. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of -19.53, a PEG ratio of 1.90 and a beta of 0.48. The firm’s 50-day moving average is $18.61 and its 200 day moving average is $16.45. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.69. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $1.22 billion for 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 quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. Research analysts predict that Bausch + Lomb will post 0.6 EPS for the current year.

Insider Transactions at Bausch + Lomb

In other news, CEO Brent L. Saunders bought 32,250 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $15.66 per share, with a total value of $505,035.00. Following the transaction, the chief executive officer now directly owns 595,169 shares in the company, valued at approximately $9,320,346.54. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after purchasing an additional 3,232 shares during the period. Squarepoint Ops LLC purchased a new stake in Bausch + Lomb in the 2nd quarter worth $173,000. Fore Capital LLC purchased a new position in Bausch + Lomb during the first quarter valued at $384,000. Renaissance Capital LLC lifted its holdings in Bausch + Lomb by 57.2% during the second quarter. Renaissance Capital LLC now owns 36,286 shares of the company’s stock valued at $527,000 after purchasing an additional 13,210 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Bausch + Lomb during the second quarter worth about $580,000. 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.