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

Bausch + Lomb (NYSE:BLCO) had its price target increased by Evercore ISI from $17.00 to $19.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective would suggest a potential downside of 0.31% from the company’s previous close.

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

Bausch + Lomb Trading Down 0.4 %

NYSE BLCO opened at $19.06 on Tuesday. The company has a market cap of $6.71 billion, a PE ratio of -19.85, a PEG ratio of 1.81 and a beta of 0.46. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.00. The stock has a 50 day moving average of $16.85 and a 200-day moving average of $15.86.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $0.18 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities research analysts anticipate that Bausch + Lomb will post 0.6 EPS for the current fiscal 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 shares were bought at an average price of $15.66 per share, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BLCO. Blue Trust Inc. increased its position in shares of Bausch + Lomb by 14,052.2% in the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after purchasing an additional 3,232 shares during the period. Squarepoint Ops LLC bought a new position in Bausch + Lomb in the second quarter valued at about $173,000. Fore Capital LLC bought a new position in Bausch + Lomb in the first quarter valued at about $384,000. Renaissance Capital LLC grew 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 valued at $399,000 after acquiring an additional 669 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Bausch + Lomb in the second quarter valued at about $580,000. Institutional investors own 11.07% of the company’s stock.

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.