Bausch + Lomb (NYSE:BLCO) PT Raised to $19.00

Bausch + Lomb (NYSE:BLCO) had its price target upped by Evercore ISI from $17.00 to $19.00 in a research note published on Tuesday, Benzinga reports. They currently have an in-line rating on the stock.

Several other brokerages have also issued reports on BLCO. Deutsche Bank Aktiengesellschaft boosted their price target on Bausch + Lomb from $14.00 to $18.00 and gave the company a hold rating in a research note on Thursday, August 1st. Needham & Company LLC reissued a hold rating on shares of Bausch + Lomb in a research note on Monday, September 16th. Evercore boosted their price target on Bausch + Lomb from $15.50 to $17.00 and gave the company an in-line rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued an outperform rating and issued a $20.00 price target on shares of Bausch + Lomb in a research note on Thursday, August 1st. Finally, HC Wainwright boosted their price target on Bausch + Lomb from $19.00 to $22.00 and gave the company a buy rating in a research note on Monday, September 23rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $19.45.

Bausch + Lomb Price Performance

Bausch + Lomb stock opened at $18.88 on Tuesday. The stock’s 50 day moving average is $16.92 and its 200 day moving average is $15.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. The firm has a market cap of $6.64 billion, a P/E ratio of -19.67, a P/E/G ratio of 1.81 and a beta of 0.48. Bausch + Lomb has a one year low of $13.16 and a one year high of $21.00.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 earnings per share. As a group, research analysts expect that Bausch + Lomb will post 0.6 EPS for the current year.

Insider Buying and Selling

In related news, CEO Brent L. Saunders purchased 32,250 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $15.66 per share, for a total transaction of $505,035.00. Following the completion of the acquisition, the chief executive officer now owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Bausch + Lomb

Several institutional investors have recently bought and sold shares of BLCO. Allianz Asset Management GmbH bought a new stake in Bausch + Lomb during the fourth quarter worth $1,706,000. Gabelli Funds LLC boosted its position in Bausch + Lomb by 14.5% in the fourth quarter. Gabelli Funds LLC now owns 302,000 shares of the company’s stock worth $5,152,000 after purchasing an additional 38,256 shares during the last quarter. Freshford Capital Management LLC boosted its position in Bausch + Lomb by 29.8% in the fourth quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock worth $29,925,000 after purchasing an additional 403,062 shares during the last quarter. Quadrature Capital Ltd boosted its position in Bausch + Lomb by 75.8% in the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock worth $824,000 after purchasing an additional 20,803 shares during the last quarter. Finally, Renaissance Capital LLC boosted its position in Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after purchasing an additional 669 shares during the last quarter. Institutional investors own 11.07% of the company’s stock.

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.