Bausch + Lomb (NYSE:BLCO) Price Target Raised to $16.00 at Evercore ISI

Bausch + Lomb (NYSE:BLCO - Free Report) had its price objective raised by Evercore ISI from $15.50 to $16.00 in a report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus cut their price objective on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley cut their price objective on Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Citigroup cut their price objective on Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Royal Bank Of Canada dropped 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. Finally, Barclays dropped their price target on Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Bausch + Lomb currently has a consensus rating of "Hold" and a consensus price target of $15.45.

Bausch + Lomb Stock Performance

Shares of BLCO stock traded down $0.32 on Tuesday, hitting $13.88. The company had a trading volume of 388,566 shares, compared to its average volume of 723,179. The firm has a market cap 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 company has a 50-day moving average price of $12.14 and a 200-day moving average price of $14.31. The company has a quick ratio of 0.96, a current ratio of 1.56 and a debt-to-equity ratio of 0.74. 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 issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). Bausch + Lomb had a negative net margin of 7.50% and a positive return on equity of 2.62%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm earned $0.07 EPS. The business's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts predict that Bausch + Lomb will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bausch + Lomb news, CEO Brent L. Saunders acquired 22,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $11.28 per share, for a total transaction of $248,160.00. Following the completion of the acquisition, the chief executive officer owned 719,156 shares of the company's stock, valued at approximately $8,112,079.68. The trade was a 3.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.76% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BLCO. National Bank of Canada FI increased its position 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 acquiring an additional 3,387 shares during the period. Commonwealth Equity Services LLC purchased a new position in Bausch + Lomb in the fourth quarter valued at $181,000. Alpine Global Management LLC purchased a new position in Bausch + Lomb in the fourth quarter valued at $181,000. Covestor Ltd purchased a new position in Bausch + Lomb in the fourth quarter valued at $188,000. Finally, Orion Portfolio Solutions LLC purchased a new position in Bausch + Lomb in the fourth quarter valued at $225,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.