Bausch + Lomb (NYSE:BLCO) Price Target Raised to $26.00 at Wells Fargo & Company

Bausch + Lomb (NYSE:BLCO) had its price objective boosted by Wells Fargo & Company from $23.00 to $26.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

BLCO has been the subject of several other reports. Stifel Nicolaus lifted their target price on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Royal Bank of Canada boosted 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. Evercore raised their price target on Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a report on Thursday, August 1st. HC Wainwright upped their price target on shares of Bausch + Lomb from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.91.

Bausch + Lomb Trading Up 1.1 %

BLCO opened at $20.51 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. Bausch + Lomb has a 52 week low of $13.16 and a 52 week high of $21.69. The stock has a market cap of $7.22 billion, a PE ratio of -19.53, a PEG ratio of 1.90 and a beta of 0.46. The business has a 50 day moving average of $18.61 and a 200-day moving average of $16.49.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share. Equities research analysts predict that Bausch + Lomb will post 0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clearline Capital LP raised its stake in Bausch + Lomb by 136.8% during the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after buying an additional 411,404 shares during the last quarter. Invenomic Capital Management LP bought a new position in Bausch + Lomb in the first quarter valued at about $6,817,000. Whitebox Advisors LLC boosted its position in Bausch + Lomb by 28.2% in 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. Rokos Capital Management LLP purchased a new stake in shares of Bausch + Lomb during the 1st quarter valued at about $5,602,000. Finally, Point72 Asset Management L.P. lifted its stake in shares of Bausch + Lomb by 31.0% in the 2nd 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 during the period. 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.