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

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

BLCO has been the subject of a number of other reports. Needham & Company LLC reissued a "hold" rating on shares of Bausch + Lomb in a report on Thursday, April 24th. Citigroup dropped their price target on Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Morgan Stanley dropped their target price on Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. HC Wainwright dropped their target price on Bausch + Lomb from $20.00 to $15.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Stifel Nicolaus cut their target price on Bausch + Lomb from $17.00 to $15.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $15.58.

Bausch + Lomb Stock Performance

Shares of BLCO stock traded up $0.19 during mid-day trading on Tuesday, reaching $14.00. The stock had a trading volume of 1,031,968 shares, compared to its average volume of 719,129. The business's fifty day moving average is $11.98 and its 200-day moving average is $14.37. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -13.59, a PEG ratio of 1.56 and a beta of 0.62. Bausch + Lomb has a 1-year low of $10.45 and a 1-year high of $21.69. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter in the prior year, the company earned $0.07 EPS. Bausch + Lomb's quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts forecast that Bausch + Lomb will post 0.74 earnings per share for the current year.

Insider Activity

In other Bausch + Lomb news, CEO Brent L. Saunders acquired 22,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $11.28 per share, for a total transaction of $248,160.00. Following the acquisition, the chief executive officer owned 719,156 shares in the company, valued at $8,112,079.68. The trade was a 3.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. National Bank of Canada FI grew its stake in Bausch + Lomb by 101.7% during the 1st quarter. National Bank of Canada FI now owns 6,719 shares of the company's stock worth $97,000 after buying an additional 3,387 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Bausch + Lomb in the fourth quarter valued at approximately $181,000. Alpine Global Management LLC purchased a new stake in shares of Bausch + Lomb in the fourth quarter valued at approximately $181,000. Covestor Ltd purchased a new stake in shares of Bausch + Lomb in the fourth quarter valued at approximately $188,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in Bausch + Lomb during the fourth quarter worth $225,000. Hedge funds and other 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.