Wells Fargo & Company Increases Bausch + Lomb (NYSE:BLCO) Price Target to $17.00

Bausch + Lomb (NYSE:BLCO) had its price objective boosted by research analysts at Wells Fargo & Company from $16.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 8.85% from the stock’s previous close.

Several other brokerages also recently weighed in on BLCO. Wall Street Zen raised Bausch + Lomb from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Morgan Stanley lifted their price target on Bausch + Lomb from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Citigroup restated a “neutral” rating on shares of Bausch + Lomb in a research report on Tuesday, October 7th. Zacks Research upgraded Bausch + Lomb to a “hold” rating in a research report on Tuesday, August 12th. Finally, Evercore ISI upped their price target on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.58.

Bausch + Lomb Stock Performance

Shares of NYSE:BLCO traded down $0.07 during trading on Friday, hitting $15.62. The stock had a trading volume of 151,963 shares, compared to its average volume of 714,605. The stock has a 50-day simple moving average of $15.20 and a two-hundred day simple moving average of $13.78. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of -17.87, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63. Bausch + Lomb has a 12-month low of $10.45 and a 12-month high of $20.71. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.76.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. Bausch + Lomb had a negative net margin of 6.13% and a positive return on equity of 2.42%. Bausch + Lomb’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. Bausch + Lomb has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Bausch + Lomb will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BLCO. Ridgewood Investments LLC purchased a new stake in shares of Bausch + Lomb in the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Bausch + Lomb by 729.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock valued at $30,000 after acquiring an additional 2,042 shares during the period. Blue Trust Inc. grew its position in Bausch + Lomb by 58.5% in the 2nd quarter. Blue Trust Inc. now owns 4,502 shares of the company’s stock valued at $59,000 after acquiring an additional 1,662 shares in the last quarter. FNY Investment Advisers LLC increased its stake in Bausch + Lomb by 93.8% during the second quarter. FNY Investment Advisers LLC now owns 6,200 shares of the company’s stock worth $80,000 after purchasing an additional 3,000 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Bausch + Lomb by 101.7% during the first quarter. National Bank of Canada FI now owns 6,719 shares of the company’s stock worth $97,000 after purchasing an additional 3,387 shares in the last quarter. 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.