Bausch + Lomb (NYSE:BLCO) Given New $15.00 Price Target at Citigroup

Bausch + Lomb (NYSE:BLCO - Free Report) had its price target boosted by Citigroup from $13.00 to $15.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also recently commented on BLCO. Evercore ISI increased their price target on Bausch + Lomb from $15.50 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday. Morgan Stanley reduced their price target on Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Royal Bank Of Canada reduced their price target on Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Needham & Company LLC reissued a "hold" rating on shares of Bausch + Lomb in a research report on Thursday, April 24th. Finally, Stifel Nicolaus reduced their price target on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.45.

Bausch + Lomb Stock Down 2.3%

Shares of BLCO stock traded down $0.32 on Wednesday, hitting $13.88. 388,566 shares of the stock were exchanged, compared to its average volume of 723,179. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $4.91 billion, a P/E ratio of -13.48, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. The business has a 50-day moving average of $12.14 and a 200 day moving average of $14.31. Bausch + Lomb has a fifty-two week low of $10.45 and a fifty-two week high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. Bausch + Lomb had a positive return on equity of 2.62% and a negative net margin of 7.50%. The firm's quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 earnings per share. Equities analysts anticipate that Bausch + Lomb will post 0.74 EPS for the current year.

Insider Transactions at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders acquired 22,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $11.28 per share, for a total transaction of $248,160.00. Following the completion of the purchase, the chief executive officer directly owned 719,156 shares of the company's stock, valued at approximately $8,112,079.68. This represents a 3.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bausch + Lomb

Large investors have recently made changes to their positions in the company. National Bank of Canada FI increased its stake in shares of Bausch + Lomb by 101.7% during the first quarter. National Bank of Canada FI now owns 6,719 shares of the company's stock worth $97,000 after purchasing an additional 3,387 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of Bausch + Lomb during the fourth quarter worth approximately $181,000. Alpine Global Management LLC bought a new position in shares of Bausch + Lomb during the fourth quarter worth approximately $181,000. Covestor Ltd bought a new position in shares of Bausch + Lomb during the fourth quarter worth approximately $188,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Bausch + Lomb during the fourth quarter worth approximately $225,000. Institutional investors 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.