Bausch + Lomb (NYSE:BLCO) Stock Price Expected to Rise, Citigroup Analyst Says

Bausch + Lomb (NYSE:BLCO) had its price objective upped by Citigroup from $13.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 5.71% from the stock’s previous close.

A number of other brokerages have also issued reports on BLCO. Morgan Stanley cut their price target on shares of Bausch + Lomb from $18.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Royal Bank Of Canada cut their price target on shares of Bausch + Lomb from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. Stifel Nicolaus cut their target price on shares of Bausch + Lomb from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company cut their target price on shares of Bausch + Lomb from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Finally, Barclays cut their target price on shares of Bausch + Lomb from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.45.

Bausch + Lomb Stock Up 1.0%

Shares of NYSE:BLCO opened at $14.19 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 0.96. The firm has a market capitalization of $5.02 billion, a PE ratio of -13.78, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. The firm’s 50-day moving average is $12.09 and its two-hundred day moving average is $14.34. Bausch + Lomb has a 1 year low of $10.45 and a 1 year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Bausch + Lomb had a positive return on equity of 2.62% and a negative net margin of 7.50%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. Analysts predict that Bausch + Lomb will post 0.74 EPS for the current year.

Insider Transactions at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders purchased 22,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $11.28 per share, with a total value of $248,160.00. Following the completion of the acquisition, the chief executive officer directly owned 719,156 shares of the company’s stock, valued at $8,112,079.68. This trade represents a 3.16% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bausch + Lomb

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI boosted its holdings in Bausch + Lomb by 101.7% in the first quarter. National Bank of Canada FI now owns 6,719 shares of the company’s stock valued at $97,000 after purchasing an additional 3,387 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter valued at approximately $181,000. Alpine Global Management LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter valued at approximately $181,000. Covestor Ltd acquired a new stake in shares of Bausch + Lomb in the fourth quarter valued at approximately $188,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of Bausch + Lomb in the fourth quarter valued at approximately $225,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.