Bausch + Lomb (NYSE:BLCO) Given New $17.00 Price Target at Evercore

Bausch + Lomb (NYSE:BLCO) had its price objective raised by stock analysts at Evercore from $15.50 to $17.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm presently has an “in-line” rating on the stock. Evercore’s price objective points to a potential downside of 1.85% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Bausch + Lomb in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Thursday. Raymond James began coverage on Bausch + Lomb in a report on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price target for the company. Evercore ISI raised their price target on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley raised Bausch + Lomb from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $16.00 to $18.00 in a research note on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Bausch + Lomb has a consensus rating of “Moderate Buy” and a consensus price target of $19.32.

Bausch + Lomb Trading Up 0.6 %

NYSE BLCO traded up $0.10 on Thursday, reaching $17.32. 444,409 shares of the company were exchanged, compared to its average volume of 519,063. The business’s fifty day moving average price is $15.46 and its 200 day moving average price is $15.34. The stock has a market capitalization of $6.09 billion, a P/E ratio of -18.04, a price-to-earnings-growth ratio of 1.74 and a beta of 0.47. The company has a current ratio of 1.70, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $20.30.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company posted $0.18 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts forecast that Bausch + Lomb will post 0.63 earnings per share for the current year.

Institutional Investors Weigh In On Bausch + Lomb

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in Bausch + Lomb by 14,052.2% during the 2nd 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. Renaissance Capital LLC raised its holdings in Bausch + Lomb by 57.2% during the second quarter. Renaissance Capital LLC now owns 36,286 shares of the company’s stock valued at $527,000 after buying an additional 13,210 shares in the last quarter. Rokos Capital Management LLP bought a new position in Bausch + Lomb during the first quarter valued at about $5,602,000. Invenomic Capital Management LP acquired a new stake in shares of Bausch + Lomb in the first quarter valued at about $6,817,000. Finally, Whitebox Advisors LLC grew its position in shares of 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 purchasing an additional 273,484 shares during the last quarter. 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.