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

Bausch + Lomb (NYSE:BLCO) had its price objective hoisted by analysts at Evercore ISI from $17.00 to $19.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s target price would suggest a potential downside of 0.31% from the company’s current price.

A number of other brokerages also recently weighed in on BLCO. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Raymond James initiated coverage on shares of Bausch + Lomb in a research report on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. 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 report on Thursday, August 1st. Finally, HC Wainwright increased their price target on shares of Bausch + Lomb from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.45.

Bausch + Lomb Stock Performance

Bausch + Lomb stock opened at $19.06 on Tuesday. 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 $21.00. The company has a market cap of $6.71 billion, a PE ratio of -19.85, a PEG ratio of 1.81 and a beta of 0.46. The company’s 50-day moving average is $16.85 and its two-hundred day moving average is $15.86.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $0.18 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. Equities analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Bausch + Lomb news, CEO Brent L. Saunders bought 32,250 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $15.66 per share, with a total value of $505,035.00. Following the purchase, the chief executive officer now owns 595,169 shares in the company, valued at $9,320,346.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Bausch + Lomb

Several hedge funds have recently made changes to their positions in BLCO. Allianz Asset Management GmbH bought a new position in shares of Bausch + Lomb during the 4th quarter worth approximately $1,706,000. Gabelli Funds LLC boosted its holdings in shares of Bausch + Lomb by 14.5% in the 4th quarter. Gabelli Funds LLC now owns 302,000 shares of the company’s stock valued at $5,152,000 after buying an additional 38,256 shares during the last quarter. Freshford Capital Management LLC boosted its holdings in shares of Bausch + Lomb by 29.8% in the 4th quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock valued at $29,925,000 after buying an additional 403,062 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Bausch + Lomb by 75.8% in the 4th quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock valued at $824,000 after buying an additional 20,803 shares during the last quarter. Finally, Renaissance Capital LLC boosted its holdings in shares of Bausch + Lomb by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after buying an additional 669 shares during the last quarter. 11.07% of the stock is owned by institutional investors.

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.