Bausch + Lomb Co. (NYSE:BLCO) Receives $20.00 Average Price Target from Brokerages

Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) has earned an average rating of "Moderate Buy" from the twelve research firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $20.27.

Several research analysts have recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a research note on Monday, September 16th. Royal Bank of Canada lifted their target price on shares of Bausch + Lomb from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday. HC Wainwright upped their price target on shares of Bausch + Lomb from $19.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Evercore lifted their price objective on shares of Bausch + Lomb from $15.50 to $17.00 and gave the company an "in-line" rating in a research note on Thursday, August 1st. Finally, Evercore ISI upgraded Bausch + Lomb from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $19.00 to $25.00 in a research report on Tuesday, October 15th.

Insider Activity

In other news, CEO Brent L. Saunders purchased 32,250 shares of the company's stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $15.66 per share, with a total value of $505,035.00. Following the completion of the purchase, the chief executive officer now directly owns 595,169 shares in the company, valued at approximately $9,320,346.54. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.15% of the company's stock.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors and hedge funds have recently made changes to their positions in BLCO. Point72 Europe London LLP raised its holdings in Bausch + Lomb by 28.9% during the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company's stock valued at $9,489,000 after buying an additional 146,583 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Bausch + Lomb during the second quarter worth about $580,000. 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 purchasing an additional 411,404 shares during the last quarter. Gabelli Funds LLC increased its holdings in Bausch + Lomb by 25.0% during the 2nd quarter. Gabelli Funds LLC now owns 390,000 shares of the company's stock valued at $5,663,000 after purchasing an additional 78,000 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Bausch + Lomb in the 2nd quarter worth approximately $1,911,000. Institutional investors own 11.07% of the company's stock.

Bausch + Lomb Stock Performance

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

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, meeting 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 analysts' expectations of $1.17 billion. During the same period in the previous year, the company earned $0.18 earnings per share. The company's quarterly revenue was up 17.5% on a year-over-year basis. Equities research analysts anticipate that Bausch + Lomb will post 0.6 EPS for the current fiscal year.

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.