Bausch + Lomb (NYSE:BLCO) Shares Gap Up – Here’s What Happened

by · The Markets Daily

Bausch + Lomb Corporation (NYSE:BLCO – Get Free Report)’s share price gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BLCO shares. Royal Bank Of Canada raised their price target on shares of Bausch + Lomb from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 14th. HC Wainwright boosted their target price on Bausch + Lomb from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. The Goldman Sachs Group started coverage on Bausch + Lomb in a research report on Wednesday, October 1st. They set a “neutral” rating and a $16.00 price target for the company. Evercore ISI upped their price objective on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company boosted their price target on shares of Bausch + Lomb from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Bausch + Lomb has a consensus rating of “Hold” and an average target price of $16.58.

Get Our Latest Report on BLCO

Bausch + Lomb Stock Down 0.6%

The stock has a market capitalization of $5.97 billion, a P/E ratio of -19.37, a PEG ratio of 1.47 and a beta of 0.62. The stock has a 50 day moving average price of $15.36 and a 200-day moving average price of $14.18. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.51 and a quick ratio of 0.98.

Bausch + Lomb (NYSE:BLCO – Get Free Report) last issued its earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share 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 company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business posted $0.13 EPS. Bausch + Lomb’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Bausch + Lomb Corporation will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLCO. Trexquant Investment LP lifted its holdings in Bausch + Lomb by 5.8% in the first quarter. Trexquant Investment LP now owns 20,255 shares of the company’s stock worth $294,000 after buying an additional 1,108 shares during the period. Woodline Partners LP raised its position in shares of Bausch + Lomb by 0.5% in the 1st quarter. Woodline Partners LP now owns 312,823 shares of the company’s stock worth $4,536,000 after acquiring an additional 1,436 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Bausch + Lomb by 58.5% in the 2nd quarter. Blue Trust Inc. now owns 4,502 shares of the company’s stock valued at $59,000 after purchasing an additional 1,662 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Bausch + Lomb during the second quarter valued at approximately $26,000. Finally, Gabelli Funds LLC grew its stake in Bausch + Lomb by 0.5% in the second quarter. Gabelli Funds LLC now owns 444,000 shares of the company’s stock worth $5,776,000 after purchasing an additional 2,000 shares during the period. 11.07% of the stock is owned by hedge funds and other institutional investors.

About Bausch + Lomb

(Get Free Report)

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.

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