Bausch + Lomb (NYSE:BLCO) Price Target Increased to $17.00 by Analysts at Evercore

Bausch + Lomb (NYSE:BLCO) had its price target raised by Evercore from $15.50 to $17.00 in a research report released on Thursday, BayStreet.CA reports. They currently have an in-line rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Evercore ISI raised their price objective on Bausch + Lomb from $15.00 to $15.50 and gave the company an in-line rating in a report on Tuesday, July 2nd. HC Wainwright restated a buy rating and issued a $20.00 price objective on shares of Bausch + Lomb in a report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an outperform rating and issued a $20.00 price objective on shares of Bausch + Lomb in a research note on Thursday. Morgan Stanley upgraded shares of Bausch + Lomb from an equal weight rating to an overweight rating and upped their price target for the company from $16.00 to $18.00 in a research report on Monday, May 6th. Finally, Raymond James assumed coverage on Bausch + Lomb in a report on Wednesday, July 10th. They issued an outperform rating and a $19.00 price objective on the stock. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Bausch + Lomb currently has a consensus rating of Moderate Buy and an average price target of $19.21.

Bausch + Lomb Price Performance

BLCO traded down $0.54 on Thursday, reaching $16.32. The company had a trading volume of 137,816 shares, compared to its average volume of 520,993. 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 52-week low of $13.16 and a 52-week high of $20.06. The business has a 50 day simple moving average of $15.50 and a 200 day simple moving average of $15.35.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.33%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS. On average, sell-side analysts forecast that Bausch + Lomb will post 0.63 EPS for the current year.

Institutional Trading of Bausch + Lomb

Several large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after purchasing an additional 3,232 shares during the period. Fore Capital LLC purchased a new stake in Bausch + Lomb in the first quarter worth about $384,000. Renaissance Capital LLC lifted 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 buying an additional 669 shares during the period. Quadrature Capital Ltd boosted its position in Bausch + Lomb by 75.8% during the 4th quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock valued at $824,000 after acquiring an additional 20,803 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Bausch + Lomb by 478.0% during the 4th quarter. Jump Financial LLC now owns 87,100 shares of the company’s stock worth $1,486,000 after acquiring an additional 72,030 shares during the period. Institutional investors own 11.07% of the company’s stock.

About Bausch + Lomb

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.