Royal Bank of Canada Increases Bausch + Lomb (NYSE:BLCO) Price Target to $23.00

Bausch + Lomb (NYSE:BLCO) had its price objective raised by Royal Bank of Canada from $20.00 to $23.00 in a report released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. HC Wainwright lifted their price target on shares of Bausch + Lomb from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Evercore raised their price objective on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a research report on Thursday, August 1st. Raymond James assumed coverage on shares of Bausch + Lomb in a research report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 price objective on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Bausch + Lomb presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.27.

Bausch + Lomb Price Performance

Shares of BLCO opened at $20.47 on Tuesday. The firm’s fifty day simple moving average is $18.17 and its 200-day simple moving average is $16.27. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.69. 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 firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of -21.32, a PEG ratio of 1.76 and a beta of 0.48.

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

Insider Activity

In other news, CEO Brent L. Saunders bought 32,250 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $15.66 per share, with a total value of $505,035.00. Following the completion of the acquisition, the chief executive officer now directly owns 595,169 shares in the company, valued at approximately $9,320,346.54. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Trading of Bausch + Lomb

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake 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 valued at $47,000 after purchasing an additional 3,232 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Bausch + Lomb in the second quarter valued at about $173,000. Fore Capital LLC acquired a new stake in shares of Bausch + Lomb in the first quarter valued at about $384,000. Renaissance Capital LLC lifted its stake in shares of Bausch + Lomb by 57.2% in the second quarter. Renaissance Capital LLC now owns 36,286 shares of the company’s stock valued at $527,000 after purchasing an additional 13,210 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Bausch + Lomb in the second quarter valued at about $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.