Bausch + Lomb (NYSE:BLCO) PT Raised to $19.00 at Stifel Nicolaus

Bausch + Lomb (NYSE:BLCO) had its target price boosted by analysts at Stifel Nicolaus from $16.00 to $19.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential downside of 1.09% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Evercore raised their price objective on Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Raymond James initiated coverage on shares of Bausch + Lomb in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of Bausch + Lomb in a research report on Thursday, August 1st. Finally, HC Wainwright cut their price target on shares of Bausch + Lomb from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.14.

Bausch + Lomb Stock Down 1.4 %

Shares of NYSE BLCO opened at $19.21 on Monday. The business has a 50-day moving average of $16.53 and a 200-day moving average of $15.71. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of -20.01, a PEG ratio of 1.47 and a beta of 0.46. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.00.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The firm 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 firm earned $0.18 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. Sell-side analysts expect that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brent L. Saunders purchased 32,250 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $15.66 per share, for a total transaction of $505,035.00. Following the completion of the acquisition, the chief executive officer now directly owns 595,169 shares in the company, valued at approximately $9,320,346.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Bausch + Lomb

Several institutional investors and hedge funds have recently bought and sold shares of BLCO. Cubist Systematic Strategies LLC bought a new position in shares of Bausch + Lomb in the 2nd quarter worth approximately $580,000. Point72 Asset Management L.P. boosted its holdings in Bausch + Lomb by 31.0% in the second quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock worth $9,397,000 after acquiring an additional 153,000 shares in the last quarter. Clearline Capital LP grew its stake in shares of Bausch + Lomb by 136.8% in the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after acquiring an additional 411,404 shares during the last quarter. Point72 Europe London LLP increased its holdings in shares of Bausch + Lomb by 28.9% during the second quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock valued at $9,489,000 after acquiring an additional 146,583 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Bausch + Lomb in the 2nd quarter worth about $173,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

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.