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

Bausch + Lomb (NYSE:BLCO) had its target price upped by Stifel Nicolaus from $16.00 to $19.00 in a report issued on Monday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other brokerages have also recently commented on BLCO. Royal Bank of Canada reissued an outperform rating and set a $20.00 price target on shares of Bausch + Lomb in a research report on Thursday, August 1st. Evercore ISI increased their price target on Bausch + Lomb from $15.00 to $15.50 and gave the company an in-line rating in a research report on Tuesday, July 2nd. Needham & Company LLC restated a hold rating on shares of Bausch + Lomb in a research note on Monday, September 16th. Evercore upped their price objective on Bausch + Lomb from $15.50 to $17.00 and gave the stock an in-line rating in a research note on Thursday, August 1st. Finally, Raymond James initiated coverage on shares of Bausch + Lomb in a research note on Wednesday, July 10th. They issued an outperform rating and a $19.00 target price for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $19.14.

Bausch + Lomb Stock Down 1.0 %

NYSE:BLCO opened at $19.02 on Monday. The stock has a 50-day simple moving average of $16.63 and a 200 day simple moving average of $15.76. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.00. The company has a market cap of $6.70 billion, a PE ratio of -19.81, a PEG ratio of 1.81 and a beta of 0.46. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.65.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The company 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 business earned $0.18 EPS. On average, sell-side analysts expect that Bausch + Lomb will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Bausch + Lomb

In other news, CEO Brent L. Saunders bought 32,250 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $15.66 per share, with a total value of $505,035.00. Following the completion of the transaction, the chief executive officer now owns 595,169 shares of the company’s stock, valued at $9,320,346.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLCO. Allianz Asset Management GmbH bought a new stake in shares of Bausch + Lomb in the fourth quarter valued at about $1,706,000. Gabelli Funds LLC boosted its holdings in Bausch + Lomb by 14.5% in the 4th quarter. Gabelli Funds LLC now owns 302,000 shares of the company’s stock valued at $5,152,000 after purchasing an additional 38,256 shares during the period. Freshford Capital Management LLC grew its position in shares of Bausch + Lomb by 29.8% during the 4th 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 in the last quarter. Quadrature Capital Ltd increased its holdings in shares of Bausch + Lomb by 75.8% during 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 period. Finally, Renaissance Capital LLC raised its position in shares of Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after buying an additional 669 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Bausch + Lomb Company Profile

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.