Royal Bank of Canada Reaffirms Outperform Rating for Bausch + Lomb (NYSE:BLCO)

Bausch + Lomb (NYSE:BLCO)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a research report issued on Thursday, Benzinga reports. They presently have a $20.00 price objective on the stock. Royal Bank of Canada’s price target indicates a potential upside of 13.19% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Evercore ISI upped their target price on shares of Bausch + Lomb from $15.00 to $15.50 and gave the stock an “in-line” rating in a research note on Tuesday, July 2nd. Raymond James began coverage on shares of Bausch + Lomb in a report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 target price on the stock. Morgan Stanley upgraded shares of Bausch + Lomb from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $16.00 to $18.00 in a research report on Monday, May 6th. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Bausch + Lomb in a research note on Thursday, May 2nd. Finally, Evercore decreased their price target on shares of Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating for the company in a research note on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.14.

Bausch + Lomb Trading Up 2.6 %

Shares of BLCO stock traded up $0.45 on Thursday, hitting $17.67. The stock had a trading volume of 159,936 shares, compared to its average volume of 516,607. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $20.30. The firm has a market cap of $6.22 billion, a P/E ratio of -18.33, a PEG 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. The company has a fifty day moving average price of $15.46 and a two-hundred day moving average price of $15.34.

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 7.81% and a positive return on equity of 3.60%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned $0.18 EPS. The firm’s revenue was up 17.5% on a year-over-year basis. As a group, analysts forecast that Bausch + Lomb will post 0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in shares of Bausch + Lomb by 14,052.2% during the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after buying an additional 3,232 shares during the last quarter. Fore Capital LLC purchased a new stake in Bausch + Lomb in the first quarter worth approximately $384,000. Renaissance Capital LLC boosted its holdings in Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after purchasing an additional 669 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in Bausch + Lomb by 75.8% in the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock worth $824,000 after purchasing an additional 20,803 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in Bausch + Lomb by 478.0% in the fourth quarter. Jump Financial LLC now owns 87,100 shares of the company’s stock worth $1,486,000 after purchasing an additional 72,030 shares during the last quarter. Hedge funds and other institutional investors 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.