Brokerages Set Bausch + Lomb Co. (NYSE:BLCO) Price Target at $15.50

Shares of Bausch + Lomb Co. (NYSE:BLCO - Get Free Report) have received an average recommendation of "Hold" from the twelve analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $15.50.

A number of analysts recently weighed in on BLCO shares. Evercore ISI dropped their price objective on shares of Bausch + Lomb from $19.00 to $15.50 and set an "outperform" rating on the stock in a report on Thursday, May 1st. HC Wainwright lowered their target price on Bausch + Lomb from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Citigroup dropped their price target on Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, April 24th. Finally, Wells Fargo & Company dropped their target price on shares of Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st.

Insider Activity at Bausch + Lomb

In other news, CEO Brent L. Saunders purchased 22,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of $11.28 per share, with a total value of $248,160.00. Following the acquisition, the chief executive officer now owns 719,156 shares in the company, valued at approximately $8,112,079.68. This trade represents a 3.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors have recently modified their holdings of BLCO. Deutsche Bank AG bought a new stake in Bausch + Lomb during the 1st quarter worth $50,750,000. Alberta Investment Management Corp boosted its stake in shares of Bausch + Lomb by 8.6% during the first quarter. Alberta Investment Management Corp now owns 3,266,193 shares of the company's stock valued at $47,360,000 after purchasing an additional 258,000 shares in the last quarter. Whitebox Advisors LLC boosted its stake in shares of Bausch + Lomb by 16.1% during the fourth quarter. Whitebox Advisors LLC now owns 1,443,101 shares of the company's stock valued at $26,062,000 after purchasing an additional 199,856 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Bausch + Lomb by 51.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock worth $21,996,000 after purchasing an additional 414,138 shares during the last quarter. Finally, King Street Capital Management L.P. increased its stake in shares of Bausch + Lomb by 55.2% in the fourth quarter. King Street Capital Management L.P. now owns 1,136,321 shares of the company's stock valued at $20,522,000 after buying an additional 404,256 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.

Bausch + Lomb Stock Up 0.3%

Shares of NYSE BLCO traded up $0.04 during trading on Wednesday, reaching $11.55. 525,933 shares of the stock were exchanged, compared to its average volume of 767,664. The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72. The business's 50-day moving average price is $12.02 and its 200 day moving average price is $15.53. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -12.69, a price-to-earnings-growth ratio of 0.85 and a beta of 0.56. Bausch + Lomb has a twelve month low of $10.45 and a twelve month high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The company's revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. As a group, equities analysts forecast that Bausch + Lomb will post 0.74 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.