Bausch + Lomb’s (BLCO) Buy Rating Reaffirmed at HC Wainwright

Bausch + Lomb (NYSE:BLCO)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $23.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 39.93% from the company’s current price.

Several other equities analysts have also commented on the company. Royal Bank of Canada decreased their price target on Bausch + Lomb from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley lowered shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 target price for the company. in a research note on Monday, December 2nd. Stifel Nicolaus decreased their price objective on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Finally, Wells Fargo & Company cut their target price on Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.25.

Bausch + Lomb Stock Down 1.2 %

Shares of NYSE BLCO opened at $16.44 on Tuesday. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.69. The company has a market capitalization of $5.79 billion, a P/E ratio of -15.65, a P/E/G ratio of 2.13 and a beta of 0.46. The company has a 50 day simple moving average of $17.59 and a 200-day simple moving average of $18.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95.

Institutional Investors Weigh In On Bausch + Lomb

A number of hedge funds have recently bought and sold shares of BLCO. Alberta Investment Management Corp increased its stake in shares of Bausch + Lomb by 36.0% during the fourth quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company’s stock worth $54,328,000 after buying an additional 796,400 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in Bausch + Lomb during the 4th quarter worth approximately $14,122,000. King Street Capital Management L.P. purchased a new stake in shares of Bausch + Lomb in the 3rd quarter valued at approximately $14,122,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Bausch + Lomb by 51.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company’s stock valued at $21,996,000 after purchasing an additional 414,138 shares in the last quarter. Finally, Barclays PLC purchased a new stake in shares of Bausch + Lomb during the 3rd quarter worth $5,797,000. 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.