Bausch + Lomb (NYSE:BLCO) Price Target Raised to $23.00

Bausch + Lomb (NYSE:BLCO - Get Free Report) had its price target increased by investment analysts at Royal Bank of Canada from $20.00 to $23.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's target price points to a potential upside of 13.02% from the stock's previous close.

Several other equities research analysts also recently commented on the company. HC Wainwright boosted their target price on Bausch + Lomb from $19.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a "hold" rating in a research report on Thursday, August 1st. Needham & Company LLC restated a "hold" rating on shares of Bausch + Lomb in a research note on Monday, September 16th. 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 target price on the stock. Finally, Evercore raised their price target on shares of Bausch + Lomb from $15.50 to $17.00 and gave the company an "in-line" rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $20.27.

Bausch + Lomb Trading Down 1.6 %

NYSE:BLCO traded down $0.33 during mid-day trading on Tuesday, reaching $20.35. 754,741 shares of the company's stock traded hands, compared to its average volume of 573,593. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69. 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 company has a 50 day moving average price of $17.81 and a 200-day moving average price of $16.15. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of -21.20, a PEG ratio of 1.76 and a beta of 0.48.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The company had revenue of $1.22 billion during 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 revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. On average, sell-side analysts predict 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 purchased 32,250 shares of the business's 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 purchase, the chief executive officer now directly owns 595,169 shares in the company, valued at $9,320,346.54. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BLCO. Clearline Capital LP raised its holdings in Bausch + Lomb by 136.8% during the second quarter. Clearline Capital LP now owns 712,055 shares of the company's stock valued at $10,339,000 after acquiring an additional 411,404 shares during the period. Invenomic Capital Management LP bought a new stake in Bausch + Lomb during the 1st quarter valued at approximately $6,817,000. Whitebox Advisors LLC lifted its holdings in Bausch + Lomb by 28.2% in the 2nd quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company's stock worth $22,447,000 after purchasing an additional 339,643 shares in the last quarter. Rokos Capital Management LLP bought a new position in Bausch + Lomb in the 1st quarter worth approximately $5,602,000. Finally, Point72 Asset Management L.P. grew its holdings in Bausch + Lomb by 31.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company's stock valued at $9,397,000 after buying an additional 153,000 shares in the last quarter. 11.07% of the stock is currently owned by 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.