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

Bausch + Lomb (NYSE:BLCO) had its price target raised by equities research analysts at Evercore ISI from $17.00 to $19.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential downside of 0.11% from the company’s previous close.

A number of other brokerages have also recently issued reports on BLCO. HC Wainwright upped their target price on Bausch + Lomb from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. 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. Evercore upped 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. Deutsche Bank Aktiengesellschaft upped their target price on Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Bausch + Lomb in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.45.

Bausch + Lomb Price Performance

Shares of BLCO stock traded down $0.27 on Tuesday, hitting $19.02. 172,540 shares of the company’s stock were exchanged, compared to its average volume of 557,961. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.00. The stock has a market cap of $6.69 billion, a P/E ratio of -19.79, a price-to-earnings-growth ratio of 1.81 and a beta of 0.46. The company has a 50 day moving average of $16.75 and a 200 day moving average of $15.82.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, hitting 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 period in the prior year, the company earned $0.18 EPS. Bausch + Lomb’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts predict that Bausch + Lomb will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other Bausch + Lomb news, CEO Brent L. Saunders bought 32,250 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average cost 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 in the company, valued at approximately $9,320,346.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Bausch + Lomb

A number of hedge funds have recently added to or reduced their stakes in BLCO. Blue Trust Inc. grew its stake in Bausch + Lomb by 14,052.2% in 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 during the period. Squarepoint Ops LLC acquired a new stake in Bausch + Lomb in the second quarter valued at approximately $173,000. Fore Capital LLC acquired a new stake in Bausch + Lomb in the first quarter valued at approximately $384,000. Renaissance Capital LLC grew its stake 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 period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Bausch + Lomb in the second quarter valued at approximately $580,000. Institutional investors and hedge funds 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.