Bausch + Lomb (NYSE:BLCO) Given New $19.00 Price Target at Stifel Nicolaus

Bausch + Lomb (NYSE:BLCO) had its price target boosted by research analysts at Stifel Nicolaus from $16.00 to $19.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential downside of 6.82% from the company’s current price.

BLCO has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Raymond James started coverage on Bausch + Lomb in a research report on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Monday, September 16th. Evercore boosted their target price on shares of Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a research note on Thursday, August 1st. Finally, Evercore ISI raised their price target on shares of Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Bausch + Lomb has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

Bausch + Lomb Price Performance

Shares of NYSE:BLCO opened at $20.39 on Monday. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.00. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The company has a market cap of $7.17 billion, a PE ratio of -20.79, a price-to-earnings-growth ratio of 1.47 and a beta of 0.46. The company’s 50 day moving average is $16.46 and its 200 day moving average is $15.70.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, sell-side analysts forecast that Bausch + Lomb will post 0.6 EPS for the current year.

Insider Activity

In related news, CEO Brent L. Saunders purchased 32,250 shares of Bausch + Lomb stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 595,169 shares in the company, valued at $9,320,346.54. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Institutional Trading of Bausch + Lomb

Several large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in Bausch + Lomb during the 2nd quarter worth $580,000. Point72 Asset Management L.P. boosted its position in Bausch + Lomb by 31.0% during the second quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock worth $9,397,000 after acquiring an additional 153,000 shares during the last quarter. Clearline Capital LP grew its stake in Bausch + Lomb by 136.8% during the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after acquiring an additional 411,404 shares in the last quarter. Point72 Europe London LLP raised its holdings in Bausch + Lomb by 28.9% in the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock valued at $9,489,000 after acquiring an additional 146,583 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Bausch + Lomb in the 2nd quarter worth approximately $173,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

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.