Evercore Raises Bausch + Lomb (NYSE:BLCO) Price Target to $17.00

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

Several other equities research analysts have also recently commented on the stock. Royal Bank of Canada reaffirmed an outperform rating and issued a $20.00 price objective on shares of Bausch + Lomb in a research report on Thursday. Morgan Stanley upgraded shares of Bausch + Lomb from an equal weight rating to an overweight rating and lifted their price target for the company from $16.00 to $18.00 in a research note on Monday, May 6th. Raymond James assumed coverage on shares of Bausch + Lomb in a research note on Wednesday, July 10th. They issued an outperform rating and a $19.00 price target on the stock. Evercore ISI lifted their price target 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. Finally, Needham & Company LLC reiterated a hold rating on shares of Bausch + Lomb in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $18.68.

Bausch + Lomb Trading Down 3.1 %

BLCO opened at $16.33 on Thursday. The stock has a market capitalization of $5.75 billion, a P/E ratio of -17.01, a P/E/G ratio of 1.75 and a beta of 0.47. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $20.06. The firm’s fifty day simple moving average is $15.53 and its 200 day simple moving average is $15.36. 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 (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, meeting the consensus estimate 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 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. As a group, research analysts anticipate that Bausch + Lomb will post 0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its stake in Bausch + Lomb by 14,052.2% in the 2nd 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 acquired a new position in Bausch + Lomb in the 1st quarter valued at about $384,000. Renaissance Capital LLC boosted its holdings in Bausch + Lomb by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after purchasing an additional 669 shares during the period. Quadrature Capital Ltd boosted its holdings in Bausch + Lomb by 75.8% in the 4th quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock valued at $824,000 after purchasing an additional 20,803 shares during the period. Finally, Jump Financial LLC boosted its holdings in Bausch + Lomb by 478.0% in the 4th quarter. Jump Financial LLC now owns 87,100 shares of the company’s stock valued at $1,486,000 after purchasing an additional 72,030 shares during the period. Institutional investors and hedge funds 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.