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

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

BLCO has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Evercore raised their price objective 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. HC Wainwright raised their price objective 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. Stifel Nicolaus raised their price objective 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. Finally, 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 objective for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.27.

Bausch + Lomb Trading Down 1.6 %

Shares of BLCO stock opened at $20.35 on Tuesday. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69. The company has a market capitalization of $7.16 billion, a P/E ratio of -21.20, a P/E/G ratio of 1.76 and a beta of 0.48. The firm has a 50-day moving average price of $17.81 and a 200 day moving average price of $16.15. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.70.

Bausch + Lomb (NYSE:BLCO) last announced 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 during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm posted $0.18 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts forecast that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Bausch + Lomb

In other news, CEO Brent L. Saunders acquired 32,250 shares of the firm’s 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BLCO. Fore Capital LLC acquired a new position in Bausch + Lomb during the first quarter valued at approximately $384,000. Gabelli Funds LLC lifted its stake in Bausch + Lomb by 3.3% in the first quarter. Gabelli Funds LLC now owns 312,000 shares of the company’s stock valued at $5,398,000 after buying an additional 10,000 shares in the last quarter. Whitebox Advisors LLC lifted its stake in Bausch + Lomb by 29.3% in the first quarter. Whitebox Advisors LLC now owns 1,206,303 shares of the company’s stock valued at $20,869,000 after buying an additional 273,484 shares in the last quarter. Invenomic Capital Management LP bought a new position in Bausch + Lomb in the first quarter valued at approximately $6,817,000. Finally, Rokos Capital Management LLP bought a new position in Bausch + Lomb in the first quarter valued at approximately $5,602,000. 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.