Analysts Set Bausch + Lomb Corporation (NYSE:BLCO) Target Price at $18.00

Bausch + Lomb Corporation (NYSE:BLCO) has received an average rating of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.00.

Several analysts recently commented on the stock. Citigroup increased their target price on shares of Bausch + Lomb from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings cut Bausch + Lomb from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Wall Street Zen upgraded Bausch + Lomb from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Evercore set a $17.00 price objective on Bausch + Lomb in a research note on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft set a $16.00 target price on Bausch + Lomb in a report on Thursday, April 30th.

Bausch + Lomb Price Performance

Shares of NYSE BLCO opened at $16.28 on Thursday. Bausch + Lomb has a twelve month low of $13.09 and a twelve month high of $18.92. The company has a current ratio of 1.53, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of -26.26, a PEG ratio of 0.49 and a beta of 0.56. The firm has a 50-day moving average of $15.88 and a two-hundred day moving average of $16.49.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Bausch + Lomb had a negative net margin of 4.21% and a positive return on equity of 3.60%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. As a group, analysts expect that Bausch + Lomb will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd raised its holdings in Bausch + Lomb by 104.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock worth $38,000 after buying an additional 1,136 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bausch + Lomb by 729.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock worth $30,000 after buying an additional 2,042 shares during the period. Royal Bank of Canada boosted its holdings in shares of Bausch + Lomb by 67.1% in the first quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock worth $58,000 after buying an additional 1,468 shares during the period. Wells Fargo & Company MN increased its position in shares of Bausch + Lomb by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock worth $101,000 after acquiring an additional 1,403 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Bausch + Lomb in the fourth quarter worth approximately $178,000. Hedge funds and other 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.