The stock of Bausch + Lomb Corporation (NYSE:BLCO) last traded at $16.07, up 1.64% from the previous session.
As we calculate the median target price by taking the range between a high of $30.00 and a low of $17.00, we find $21.00. Given the previous closing price of $15.81, this indicates a potential upside of 32.83 percent. BLCO stock price is now -5.80% away from the 50-day moving average and 1.30% away from the 200-day moving average. The market capitalization of the company currently stands at $5.74B.
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Brokers who have rated the stock have averaged $21.08 as their price target over the next twelve months.
On December 21, 2022, Barclays recently initiated its ‘Equal Weight’ rating on the stock quoting a target price of $17, while ‘H.C. Wainwright’ rates the stock as ‘Buy’.
In other news, Bausch Health Companies Inc., 10% Owner sold 4,550,357 shares of the company’s stock on Jun 01. The stock was sold for $77,606,339 at an average price of $17.05. Upon completion of the transaction, the 10% Owner now directly owns 310,449,643 shares in the company, valued at $4.99 billion. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BLCO stock. A new stake in Bausch + Lomb Corporation shares was purchased by NORGES BANK during the first quarter worth $44,996,000. CITADEL ADVISORS LLC invested $12,853,000 in shares of BLCO during the first quarter. In the first quarter, ALBERTA INVESTMENT MANAGEMENT CORP acquired a new stake in Bausch + Lomb Corporation valued at approximately $11,249,000. WOODLINE PARTNERS LP acquired a new stake in BLCO for approximately $8,687,000. CORONATION FUND MANAGERS LTD. purchased a new stake in BLCO valued at around $4,499,000 in the second quarter. In total, there are 100 active investors with 12.80% ownership of the company’s stock.
With an opening price of $15.57 on Wednesday morning, Bausch + Lomb Corporation (NYSE: BLCO) set off the trading day. During the past 12 months, Bausch + Lomb Corporation has had a low of $12.20 and a high of $20.20. As of last week, the company has a debt-to-equity ratio of 0.35, a current ratio of 1.60, and a quick ratio of 1.20. The fifty day moving average price for BLCO is $17.07 and a two-hundred day moving average price translates $15.85 for the stock.
The latest earnings results from Bausch + Lomb Corporation (NYSE: BLCO) was released for Sep, 2022. The net profit margin was 0.20% and return on equity was 0.10% for BLCO. The company reported revenue of $996.0 million for the quarter, compared to $1.0 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.5 percent.
Bausch + Lomb Corporation(BLCO) Company Profile
Bausch + Lomb Corporation operates as an eye health company worldwide. It operates through three segments: Vision Care/Consumer Health Care, Ophthalmic Pharmaceuticals, and Surgical. The Vision Care/Consumer Health 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, over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions comprising eye allergies, conjunctivitis, and dry eye. The Ophthalmic Pharmaceuticals segment offers proprietary and generic pharmaceutical products for post-operative treatments, as well as for the treatment of eye conditions, such as glaucoma, ocular hypertension, and retinal diseases; and contact lenses for therapeutic use. The Surgical segment provides tools and technologies for the treatment of cataracts, and vitreous and retinal eye conditions; and intraocular lenses and delivery systems, phacoemulsification equipment, and other surgical instruments and devices. The company was founded in 1853 and is headquartered in Vaughan, Canada. Bausch + Lomb Corporation operates as a subsidiary of Bausch Health Companies Inc.
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