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

Bausch + Lomb (NYSE:BLCO) had its target price increased by Stifel Nicolaus from $16.00 to $19.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other brokerages have also commented on BLCO. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a hold rating in a report on Thursday, August 1st. Needham & Company LLC reissued a hold rating on shares of Bausch + Lomb in a research note on Monday, September 16th. Royal Bank of Canada restated an outperform rating and issued a $20.00 price objective on shares of Bausch + Lomb in a research report on Thursday, August 1st. Raymond James began coverage on Bausch + Lomb in a research note on Wednesday, July 10th. They issued an outperform rating and a $19.00 target price for the company. Finally, Evercore ISI boosted their target price on Bausch + Lomb from $15.00 to $15.50 and gave the stock an in-line rating in a research report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $19.14.

Bausch + Lomb Stock Performance

NYSE:BLCO opened at $19.02 on Monday. The stock has a market capitalization of $6.70 billion, a P/E ratio of -19.81, a price-to-earnings-growth ratio of 1.81 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 1 year low of $13.16 and a 1 year high of $21.00. The firm has a 50 day moving average of $16.63 and a 200-day moving average of $15.76.

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, meeting the consensus estimate of $0.13. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, sell-side analysts anticipate that Bausch + Lomb will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling at Bausch + Lomb

In other news, CEO Brent L. Saunders acquired 32,250 shares of Bausch + Lomb stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $15.66 per share, with a total value of $505,035.00. Following the purchase, the chief executive officer now directly owns 595,169 shares of the company’s stock, valued at $9,320,346.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of Bausch + Lomb

Several hedge funds have recently added to or reduced their stakes in BLCO. Blue Trust Inc. grew 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 acquiring an additional 3,232 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Bausch + Lomb in the 2nd quarter valued at approximately $173,000. Fore Capital LLC acquired a new position in shares of Bausch + Lomb in the 1st quarter valued at approximately $384,000. Renaissance Capital LLC increased its stake in Bausch + Lomb by 3.0% during the 1st quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after purchasing an additional 669 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Bausch + Lomb during the 2nd quarter worth approximately $580,000. Institutional investors and hedge funds 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.