Brokerages Set Bausch + Lomb Co. (NYSE:BLCO) Price Target at $20.00

Bausch + Lomb Co. (NYSE:BLCO) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.27.

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada increased their target price on Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday. HC Wainwright increased their price target on Bausch + Lomb from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Raymond James assumed coverage on Bausch + Lomb in a research report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 price target on the stock. Stifel Nicolaus increased their price target on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st.

Bausch + Lomb Price Performance

Shares of NYSE BLCO opened at $20.18 on Tuesday. The firm has a market cap of $7.10 billion, a P/E ratio of -21.02, a price-to-earnings-growth ratio of 1.76 and a beta of 0.48. 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 1-year low of $13.16 and a 1-year high of $21.69. The business’s 50 day moving average is $18.00 and its 200-day moving average is $16.21.

Bausch + Lomb (NYSE:BLCO) last announced its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. Equities research analysts predict that Bausch + Lomb will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders bought 32,250 shares of Bausch + Lomb stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $15.66 per share, with a total value of $505,035.00. Following the acquisition, the chief executive officer now owns 595,169 shares in the company, valued at $9,320,346.54. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds have recently modified their holdings of the company. Point72 Europe London LLP boosted its holdings in shares of Bausch + Lomb by 28.9% during 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Bausch + Lomb during the 2nd quarter valued at $580,000. Clearline Capital LP boosted its holdings in shares of 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. Gabelli Funds LLC raised its position in Bausch + Lomb by 25.0% during the 2nd quarter. Gabelli Funds LLC now owns 390,000 shares of the company’s stock worth $5,663,000 after purchasing an additional 78,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Bausch + Lomb during the 2nd quarter worth $1,911,000. Institutional investors and hedge funds 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.