Bausch + Lomb (NYSE:BLCO) Price Target Raised to $24.00 at Citigroup

Bausch + Lomb (NYSE:BLCO) had its target price upped by analysts at Citigroup from $20.00 to $24.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 18.34% from the company’s current price.

A number of other research analysts have also weighed in on BLCO. Royal Bank of Canada raised their price target on shares of Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Raymond James initiated coverage on shares of Bausch + Lomb in a research report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on shares of Bausch + Lomb from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.91.

Bausch + Lomb Stock Down 0.8 %

Shares of Bausch + Lomb stock traded down $0.16 during trading hours on Thursday, reaching $20.28. The company’s stock had a trading volume of 610,256 shares, compared to its average volume of 570,007. Bausch + Lomb has a one year low of $13.16 and a one year high of $21.69. The company has a market capitalization of $7.14 billion, a P/E ratio of -15.60, a P/E/G ratio of 1.76 and a beta of 0.48. The stock’s fifty day simple moving average is $18.44 and its two-hundred day simple moving average is $16.38. 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 released its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $0.18 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. On average, research analysts forecast that Bausch + Lomb will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In other Bausch + Lomb news, CEO Brent L. Saunders bought 32,250 shares of Bausch + Lomb stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $15.66 per share, for a total transaction of $505,035.00. Following the completion of the purchase, the chief executive officer now directly owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Bausch + Lomb

Several large investors have recently modified their holdings of the business. Blue Trust Inc. grew its stake in Bausch + Lomb by 14,052.2% during the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after acquiring an additional 3,232 shares in the last quarter. Renaissance Capital LLC grew its stake in Bausch + Lomb by 20.0% during the third quarter. Renaissance Capital LLC now owns 43,560 shares of the company’s stock valued at $840,000 after acquiring an additional 7,274 shares in the last quarter. Gabelli Funds LLC grew its stake in Bausch + Lomb by 3.3% during the first quarter. Gabelli Funds LLC now owns 312,000 shares of the company’s stock valued at $5,398,000 after acquiring an additional 10,000 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Bausch + Lomb during the second quarter valued at approximately $173,000. Finally, Fore Capital LLC lifted its position in Bausch + Lomb by 90.2% during the second quarter. Fore Capital LLC now owns 42,180 shares of the company’s stock valued at $612,000 after purchasing an additional 20,000 shares during the last quarter. Hedge funds and other 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.