Stifel Nicolaus Boosts Bausch + Lomb (NYSE:BLCO) Price Target to $19.00

Bausch + Lomb (NYSE:BLCO) had its target price raised by investment analysts at Stifel Nicolaus from $16.00 to $19.00 in a report released on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential downside of 6.82% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI boosted their price objective on shares of Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. Evercore upped their price target on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. HC Wainwright decreased their target price on Bausch + Lomb from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Bausch + Lomb Trading Up 2.2 %

Shares of BLCO stock opened at $20.39 on Monday. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.00. The company’s fifty day simple moving average is $16.46 and its two-hundred day simple moving average is $15.70. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of -20.79, a PEG ratio of 1.47 and a beta of 0.46.

Bausch + Lomb (NYSE:BLCO) last issued 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 business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current year.

Insider Transactions at Bausch + Lomb

In other news, CEO Brent L. Saunders bought 32,250 shares of Bausch + Lomb stock in a transaction on Monday, August 5th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $9,320,346.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On Bausch + Lomb

A number of large investors have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in Bausch + Lomb by 14,052.2% in 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. Squarepoint Ops LLC acquired a new position in Bausch + Lomb during the 2nd quarter valued at approximately $173,000. Fore Capital LLC purchased a new position in shares of Bausch + Lomb in the first quarter worth $384,000. Renaissance Capital LLC lifted its stake in shares of Bausch + Lomb by 3.0% during 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. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Bausch + Lomb during the second quarter worth $580,000. 11.07% of the stock is owned by institutional investors and hedge funds.

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.