Bausch + Lomb (NYSE:BLCO) Stock Price Up 2%

Bausch + Lomb Co. (NYSE:BLCOGet Rating)’s share price rose 2% during mid-day trading on Thursday . The company traded as high as $15.26 and last traded at $15.18. Approximately 3,745 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 1,238,128 shares. The stock had previously closed at $14.88.

Analysts Set New Price Targets

BLCO has been the subject of a number of recent analyst reports. Bank of America initiated coverage on shares of Bausch + Lomb in a report on Tuesday, May 31st. They issued a “buy” rating for the company. Evercore ISI initiated coverage on shares of Bausch + Lomb in a research note on Friday, June 24th. They set an “outperform” rating and a $21.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Bausch + Lomb from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, June 9th. Wells Fargo & Company initiated coverage on shares of Bausch + Lomb in a research note on Tuesday, May 31st. They set an “overweight” rating and a $23.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on shares of Bausch + Lomb from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Sunday, July 31st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Bausch + Lomb has a consensus rating of “Moderate Buy” and an average price target of $23.42.

Bausch + Lomb Stock Up 1.0 %

The business’s fifty day simple moving average is $15.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.57.

Bausch + Lomb (NYSE:BLCOGet Rating) last posted its quarterly earnings results on Wednesday, June 8th. The company reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $889.00 million during the quarter. Equities analysts predict that Bausch + Lomb Co. will post 1.08 EPS for the current fiscal year.

Institutional Trading of Bausch + Lomb

A number of institutional investors and hedge funds have recently modified their holdings of BLCO. Lazard Asset Management LLC acquired a new stake in shares of Bausch + Lomb during the second quarter worth $34,000. Legal & General Group Plc acquired a new stake in shares of Bausch + Lomb during the second quarter worth $153,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Bausch + Lomb during the second quarter worth $177,000. CSS LLC IL acquired a new stake in shares of Bausch + Lomb during the second quarter worth $182,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Bausch + Lomb during the second quarter worth $256,000. 10.32% of the stock is owned by institutional investors and hedge funds.

About Bausch + Lomb

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Bausch + Lomb Corporation operates as an eye health company in Canada and internationally. It operates through three segments: Vision Care, Ophthalmic Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that cover the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products, over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions comprising eye allergies, conjunctivitis, and dry eye.

Further Reading

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