Bausch + Lomb (NYSE:BLCO) Stock Price Up 3.7%

Shares of Bausch + Lomb Co. (NYSE:BLCO) rose 3.7% on Monday . The company traded as high as $16.56 and last traded at $16.40. Approximately 372,758 shares traded hands during trading, a decline of 25% from the average daily volume of 495,227 shares. The stock had previously closed at $15.81.

Wall Street Analyst Weigh In

BLCO has been the subject of a number of recent research reports. Morgan Stanley upgraded Bausch + Lomb from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $16.00 to $18.00 in a research report on Monday, May 6th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Wednesday, May 1st. Evercore dropped their price objective on Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating for the company in a report on Thursday, May 2nd. Raymond James initiated coverage on Bausch + Lomb in a report on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, Evercore ISI upped their price objective on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.95.

Bausch + Lomb Trading Up 5.6 %

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.03. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of -17.47, a PEG ratio of 1.63 and a beta of 0.48. The business has a 50 day simple moving average of $15.32 and a 200-day simple moving average of $15.30.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Bausch + Lomb had a negative net margin of 7.81% and a positive return on equity of 3.60%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, equities analysts expect that Bausch + Lomb Co. will post 0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in shares of Bausch + Lomb by 14,052.2% during the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after buying an additional 3,232 shares during the period. Fore Capital LLC acquired a new position in shares of Bausch + Lomb during the first quarter worth about $384,000. Renaissance Capital LLC boosted its position in shares of Bausch + Lomb by 3.0% during the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after buying an additional 669 shares during the period. Quadrature Capital Ltd boosted its position in shares of Bausch + Lomb by 75.8% during the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock worth $824,000 after buying an additional 20,803 shares during the period. Finally, Jump Financial LLC boosted its position in shares of Bausch + Lomb by 478.0% during the fourth quarter. Jump Financial LLC now owns 87,100 shares of the company’s stock worth $1,486,000 after buying an additional 72,030 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

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.