Wells Fargo & Company Forecasts Strong Price Appreciation for Bausch + Lomb (NYSE:BLCO) Stock

Bausch + Lomb (NYSE:BLCO) had its price target boosted by Wells Fargo & Company from $23.00 to $26.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 28.21% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada boosted their price objective on Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Thursday. Finally, Evercore lifted their price target on Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.64.

Bausch + Lomb Stock Performance

Shares of BLCO stock traded down $0.16 during trading hours on Thursday, hitting $20.28. 610,256 shares of the company were exchanged, compared to its average volume of 569,894. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of -15.60, a P/E/G ratio of 1.76 and a beta of 0.48. The firm has a fifty day simple moving average of $18.44 and a 200 day simple moving average of $16.38. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.69.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Research analysts predict that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Bausch + Lomb

In related news, CEO Brent L. Saunders acquired 32,250 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $15.66 per share, for a total transaction of $505,035.00. Following the transaction, the chief executive officer now owns 595,169 shares in the company, valued at $9,320,346.54. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bausch + Lomb

A number of hedge funds have recently made changes to their positions in BLCO. Point72 Europe London LLP lifted its stake in Bausch + Lomb by 28.9% in the second quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after purchasing an additional 146,583 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Bausch + Lomb in the 2nd quarter valued at about $580,000. Clearline Capital LP grew its position in Bausch + Lomb by 136.8% during the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after acquiring an additional 411,404 shares during the last quarter. Gabelli Funds LLC increased its stake in Bausch + Lomb by 25.0% in the 2nd quarter. Gabelli Funds LLC now owns 390,000 shares of the company’s stock worth $5,663,000 after purchasing an additional 78,000 shares during the period. Finally, Marshall Wace LLP bought a new stake in Bausch + Lomb in the second quarter valued at approximately $1,911,000. 11.07% of the stock is currently owned by institutional investors.

Bausch + Lomb Company Profile

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.