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

Bausch + Lomb (NYSE:BLCO) had its price objective hoisted by investment analysts at HC Wainwright from $20.00 to $21.00 in a note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 24.31% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Evercore set a $17.00 price target on Bausch + Lomb in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on shares of Bausch + Lomb in a research report on Thursday, April 30th. Wall Street Zen raised shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. UBS Group assumed coverage on shares of Bausch + Lomb in a research note on Thursday. They set a “buy” rating and a $21.00 price objective for the company. Finally, Weiss Ratings upgraded Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 24th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.75.

Bausch + Lomb Stock Performance

Shares of BLCO stock opened at $16.89 on Monday. Bausch + Lomb has a 12-month low of $13.09 and a 12-month high of $18.92. The business’s fifty day simple moving average is $15.93 and its 200-day simple moving average is $16.42. The company has a current ratio of 1.55, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The company has a market cap of $6.03 billion, a PE ratio of -35.19, a PEG ratio of 0.52 and a beta of 0.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its holdings in Bausch + Lomb by 5.3% in the second quarter. Handelsbanken Fonder AB now owns 22,000 shares of the company’s stock valued at $364,000 after purchasing an additional 1,100 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Bausch + Lomb by 16.0% during the 1st quarter. Bank of America Corp DE now owns 65,765 shares of the company’s stock valued at $1,046,000 after buying an additional 9,066 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Bausch + Lomb by 67.1% in the 1st quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock valued at $58,000 after buying an additional 1,468 shares during the period. Whitebox Advisors LLC lifted its holdings in shares of Bausch + Lomb by 15.8% in the 1st quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company’s stock valued at $17,519,000 after buying an additional 150,641 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Bausch + Lomb by 100.0% in the first quarter. Sei Investments Co. now owns 139,266 shares of the company’s stock worth $2,214,000 after buying an additional 69,633 shares during the last quarter. 11.07% of the stock is currently 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.