Bausch + Lomb (NYSE:BLCO) Reaches New 52-Week High – Here’s What Happened

Bausch + Lomb Corporation (NYSE:BLCO)’s stock price reached a new 52-week high on Monday . The stock traded as high as $18.12 and last traded at $17.9940, with a volume of 367188 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Evercore set a $18.00 target price on shares of Bausch + Lomb and gave the stock an “in-line” rating in a report on Monday, January 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $18.00 price objective on shares of Bausch + Lomb in a research note on Thursday. Citigroup lifted their target price on Bausch + Lomb from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank Of Canada increased their price target on Bausch + Lomb from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Bausch + Lomb in a research note on Monday. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Bausch + Lomb Price Performance

The company has a fifty day moving average of $17.06 and a 200-day moving average of $15.87. The firm has a market cap of $6.30 billion, a P/E ratio of -17.44, a P/E/G ratio of 0.73 and a beta of 0.61. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.55 and a quick ratio of 1.04.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Bausch + Lomb had a positive return on equity of 2.77% and a negative net margin of 7.06%.The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Bausch + Lomb Corporation will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

Several hedge funds have recently made changes to their positions in BLCO. Oaktree Capital Management LP purchased a new stake in Bausch + Lomb during the 2nd quarter worth about $32,801,000. Glenview Capital Management LLC increased its position 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 period. Davidson Kempner Capital Management LP purchased a new stake in shares of Bausch + Lomb in the third quarter worth about $14,776,000. Woodline Partners LP boosted its position in shares of Bausch + Lomb by 175.3% in the third quarter. Woodline Partners LP now owns 861,053 shares of the company’s stock valued at $12,976,000 after acquiring an additional 548,230 shares during the period. Finally, Goldentree Asset Management LP grew its stake in Bausch + Lomb by 14.9% during the second quarter. Goldentree Asset Management LP now owns 2,583,185 shares of the company’s stock valued at $33,524,000 after acquiring an additional 334,916 shares in the last quarter. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch + Lomb

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.