Bausch + Lomb (NYSE:BLCO) Price Target Increased to $19.00 by Analysts at Evercore ISI

Bausch + Lomb (NYSE:BLCO) had its price objective increased by Evercore ISI from $17.00 to $19.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the stock.

Other research analysts have also recently issued research reports about the company. Raymond James began coverage on Bausch + Lomb in a research report on Wednesday, July 10th. They set an outperform rating and a $19.00 price target on the stock. Needham & Company LLC restated a hold rating on shares of Bausch + Lomb in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a hold rating in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on Bausch + Lomb from $16.00 to $19.00 and gave the stock a hold rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $20.00 target price on shares of Bausch + Lomb in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bausch + Lomb currently has a consensus rating of Moderate Buy and an average price target of $19.45.

Bausch + Lomb Trading Up 0.7 %

Shares of NYSE BLCO opened at $19.02 on Tuesday. The firm has a 50 day moving average price of $16.92 and a two-hundred day moving average price of $15.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.65. The stock has a market cap of $6.69 billion, a P/E ratio of -19.81, a price-to-earnings-growth ratio of 1.81 and a beta of 0.48. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.00.

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

Insider Buying and Selling

In other Bausch + Lomb news, CEO Brent L. Saunders bought 32,250 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $505,035.00. Following the transaction, the chief executive officer now directly owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Capital LLC increased its stake in Bausch + Lomb by 3.0% during the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after acquiring an additional 669 shares during the last quarter. Blue Trust Inc. grew its position in shares of Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after buying an additional 3,232 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Bausch + Lomb by 3.3% in the 1st quarter. Gabelli Funds LLC now owns 312,000 shares of the company’s stock valued at $5,398,000 after purchasing an additional 10,000 shares during the period. Squarepoint Ops LLC acquired a new stake in Bausch + Lomb during the 2nd quarter worth $173,000. Finally, Fore Capital LLC grew its holdings in shares of Bausch + Lomb by 90.2% during the second quarter. Fore Capital LLC now owns 42,180 shares of the company’s stock worth $612,000 after buying an additional 20,000 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.