Royal Bank Of Canada Boosts Bausch + Lomb (NYSE:BLCO) Price Target to $19.00

Bausch + Lomb (NYSE:BLCO) had its price objective raised by research analysts at Royal Bank Of Canada from $17.00 to $19.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 22.01% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Zacks Research upgraded Bausch + Lomb to a “hold” rating in a research note on Tuesday, August 12th. The Goldman Sachs Group assumed coverage on shares of Bausch + Lomb in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $16.00 target price for the company. Raymond James Financial restated an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Bausch + Lomb in a research note on Thursday, October 30th. Barclays raised their price target on shares of Bausch + Lomb from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Finally, Morgan Stanley boosted their price objective on shares of Bausch + Lomb from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the 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 Price Performance

NYSE BLCO opened at $15.57 on Friday. The firm’s fifty day simple moving average is $15.22 and its two-hundred day simple moving average is $13.79. The firm has a market capitalization of $5.52 billion, a P/E ratio of -17.90, a P/E/G ratio of 1.52 and a beta of 0.63. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. Bausch + Lomb has a 12-month low of $10.45 and a 12-month high of $20.71.

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

Institutional Investors Weigh In On Bausch + Lomb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLCO. Ridgewood Investments LLC purchased a new position in shares of Bausch + Lomb during the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. raised its position in Bausch + Lomb by 729.3% during the second 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 in the last quarter. Blue Trust Inc. lifted its holdings in Bausch + Lomb by 58.5% in the second 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 during the period. FNY Investment Advisers LLC boosted its position in Bausch + Lomb by 93.8% in the 2nd 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 in the last quarter. Finally, National Bank of Canada FI boosted its position in Bausch + Lomb by 101.7% in the 1st 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. 11.07% of the stock is 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.