Bausch + Lomb Corp (NYSE:BLCO) price on Friday, February 28, rose 1.27% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $16.00.
A look at the stock’s price movement, the close in the last trading session was $15.80. Turning to its 52-week performance, $21.69 and $13.16 were the 52-week high and 52-week low respectively. Overall, BLCO moved -10.51% over the past month.
Bausch + Lomb Corp’s market cap currently stands at around $5.64 billion, with investors looking forward to this quarter’s earnings report slated for in April.
Analysts have a consensus estimate of 1.15B for the company’s revenue for the quarter, with a low and high estimate of 1.13B and 1.18B respectively. The average forecast suggests up to a 4.71% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 5.02B, representing a 4.71% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BLCO is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 4 recommend BLCO as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BLCO’s current price about -2.37% and -6.92% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 39.62, while 7-day volatility ratio is 1.83% and 2.68% in the 30-day chart. Further, Bausch + Lomb Corp (BLCO) has a beta value of 0.50, and an average true range (ATR) of 0.45. Analysts have given the company’s stock an average 52-week price target of $23, forecast between a low of $19 and high of $25. Looking at the price targets, the low is -18.75% off current price level while to achieve the yearly target high, price needs to move -56.25%. Nonetheless, investors will most likely welcome a -43.75% jump to $23 which is the analysts’ median price.
If we refocus on Bausch + Lomb Corp (NYSE:BLCO), historical trading data shows that trading volumes averaged 615.06K over the past 3 months. The company’s latest data on shares outstanding shows there are 350.91 million shares.
The 89.69% of Bausch + Lomb Corp’s shares are in the hands of company insiders while institutional holders own 9.28% of the company’s shares. Current price change has pushed the stock -11.41% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BLCO stock continues to rise going into the next quarter.
