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

Bausch + Lomb (NYSE:BLCO) had its target price raised by Wells Fargo & Company from $16.00 to $17.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.85% from the company’s current price.

Several other equities research analysts have also recently weighed in on BLCO. Citigroup restated a “neutral” rating on shares of Bausch + Lomb in a research note on Tuesday, October 7th. JPMorgan Chase & Co. upped their target price on shares of Bausch + Lomb from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. The Goldman Sachs Group initiated coverage on Bausch + Lomb in a report on Wednesday, October 1st. They set a “neutral” rating and a $16.00 price objective on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Bausch + Lomb in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bausch + Lomb in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.58.

Bausch + Lomb Stock Down 0.5%

BLCO traded down $0.07 on Friday, hitting $15.62. 151,963 shares of the company were exchanged, compared to its average volume of 714,605. The firm has a 50-day moving average price of $15.20 and a two-hundred day moving average price of $13.78. 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 twelve month low of $10.45 and a twelve month high of $20.71. The company has a market cap of $5.53 billion, a price-to-earnings ratio of -17.87, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the business posted $0.13 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Bausch + Lomb has set its FY 2025 guidance at EPS. On average, equities analysts predict that Bausch + Lomb will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Deutsche Bank AG purchased a new stake in shares of Bausch + Lomb during the first quarter worth approximately $50,750,000. Alberta Investment Management Corp increased its stake in Bausch + Lomb by 8.6% in the 1st quarter. Alberta Investment Management Corp now owns 3,266,193 shares of the company’s stock valued at $47,360,000 after buying an additional 258,000 shares during the period. Oaktree Capital Management LP raised its position in Bausch + Lomb by 28.7% during the 3rd quarter. Oaktree Capital Management LP now owns 3,245,439 shares of the company’s stock worth $48,909,000 after buying an additional 724,194 shares during the last quarter. Goldentree Asset Management LP lifted its stake in shares of Bausch + Lomb by 14.9% in the 2nd quarter. Goldentree Asset Management LP now owns 2,583,185 shares of the company’s stock worth $33,524,000 after acquiring an additional 334,916 shares during the period. Finally, Glenview Capital Management LLC lifted its stake in shares of Bausch + Lomb by 210.8% in the 2nd quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock worth $20,216,000 after acquiring an additional 1,053,855 shares during the period. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.