Bausch + Lomb (NYSE:BLCO) Shares Gap Up – Time to Buy?

Bausch + Lomb Corporation (NYSE:BLCO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $16.56, but opened at $17.63. Bausch + Lomb shares last traded at $17.3260, with a volume of 198,705 shares changing hands.

Wall Street Analyst Weigh In

BLCO has been the subject of a number of recent analyst reports. 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 price target for the company. Zacks Research upgraded Bausch + Lomb to a “hold” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada upped their target price on Bausch + Lomb from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Citigroup reissued a “neutral” rating on shares of Bausch + Lomb in a report on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.58.

Bausch + Lomb Trading Up 4.0%

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.51 and a quick ratio of 0.98. The company has a market capitalization of $6.10 billion, a P/E ratio of -19.79, a price-to-earnings-growth ratio of 1.40 and a beta of 0.63. The firm has a fifty day moving average price of $15.29 and a 200-day moving average price of $14.12.

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 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 for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. Bausch + Lomb has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Bausch + Lomb Corporation will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On Bausch + Lomb

A number of large investors have recently made changes to their positions in BLCO. Deutsche Bank AG purchased a new stake in shares of Bausch + Lomb in the first quarter worth about $50,750,000. Oaktree Capital Management LP increased its position in shares of Bausch + Lomb by 28.7% in the third quarter. Oaktree Capital Management LP now owns 3,245,439 shares of the company’s stock worth $48,909,000 after purchasing an additional 724,194 shares during the last quarter. Goldentree Asset Management LP lifted its stake in Bausch + Lomb by 14.9% in the second quarter. Goldentree Asset Management LP now owns 2,583,185 shares of the company’s stock worth $33,524,000 after purchasing an additional 334,916 shares during the last quarter. Glenview Capital Management LLC grew its stake in shares of Bausch + Lomb by 210.8% during the second quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock valued at $20,216,000 after buying an additional 1,053,855 shares during the last quarter. Finally, Compass Rose Asset Management LP increased its stake in shares of Bausch + Lomb by 22.0% in the third quarter. Compass Rose Asset Management LP now owns 1,000,000 shares of the company’s stock worth $15,070,000 after buying an additional 180,000 shares during the period. 11.07% of the stock is 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.