Bausch + Lomb (NYSE:BLCO) Price Target Raised to $15.50

Bausch + Lomb (NYSE:BLCO) had its price target raised by equities research analysts at Evercore ISI from $15.00 to $15.50 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 5.66% from the company’s current price.

A number of other research analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Bausch + Lomb in a report on Thursday, May 2nd. Royal Bank of Canada dropped their price target on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Morgan Stanley raised Bausch + Lomb from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $16.00 to $18.00 in a report on Monday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Wednesday, May 1st. Finally, Evercore decreased their price target on shares of Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating on the stock in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.32.

Bausch + Lomb Stock Performance

BLCO stock traded up $0.08 during trading hours on Tuesday, reaching $14.67. The stock had a trading volume of 49,911 shares, compared to its average volume of 453,360. The stock has a 50-day simple moving average of $14.88 and a 200 day simple moving average of $15.33. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.23. The stock has a market capitalization of $5.16 billion, a PE ratio of -15.28, a price-to-earnings-growth ratio of 1.47 and a beta of 0.48. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.03.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Bausch + Lomb had a negative net margin of 7.81% and a positive return on equity of 3.60%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. Analysts predict that Bausch + Lomb will post 0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors have recently added to or reduced their stakes in BLCO. Rokos Capital Management LLP bought a new stake in shares of Bausch + Lomb during the first quarter worth $5,602,000. Invenomic Capital Management LP acquired a new position in Bausch + Lomb in the 1st quarter worth about $6,817,000. Whitebox Advisors LLC increased its holdings in Bausch + Lomb by 29.3% in the 1st quarter. Whitebox Advisors LLC now owns 1,206,303 shares of the company’s stock worth $20,869,000 after purchasing an additional 273,484 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Bausch + Lomb by 3.3% during the first quarter. Gabelli Funds LLC now owns 312,000 shares of the company’s stock valued at $5,398,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Fore Capital LLC bought a new stake in shares of Bausch + Lomb during the first quarter worth about $384,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.