Bausch + Lomb (NYSE:BLCO) Price Target Raised to $23.00

Bausch + Lomb (NYSE:BLCO) had its target price upped by Royal Bank of Canada from $20.00 to $23.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and raised their price target for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Monday, September 16th. Evercore increased their price target 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. HC Wainwright boosted their price objective 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. Finally, Raymond James started coverage on shares of Bausch + Lomb in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 target price for the company. Five investment 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 currently has an average rating of “Moderate Buy” and an average price target of $20.27.

Bausch + Lomb Price Performance

NYSE BLCO opened at $20.18 on Tuesday. The firm’s 50 day moving average is $18.00 and its 200-day moving average is $16.21. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $7.10 billion, a PE ratio of -21.02, a price-to-earnings-growth ratio of 1.76 and a beta of 0.48. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, meeting 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 in the previous year, the business earned $0.18 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. Equities research analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders purchased 32,250 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $505,035.00. Following the completion of the purchase, the chief executive officer now owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Hedge Funds 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 holdings in shares of Bausch + Lomb by 14,052.2% during the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after purchasing an additional 3,232 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Bausch + Lomb during the 2nd quarter worth approximately $173,000. Fore Capital LLC acquired a new stake in shares of Bausch + Lomb during the 1st quarter worth approximately $384,000. Renaissance Capital LLC increased its stake in 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 acquiring an additional 13,210 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Bausch + Lomb during the second quarter valued at approximately $580,000. 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.