Bausch + Lomb Co. (NYSE:BLCO) Receives $20.00 Average PT from Analysts

Bausch + Lomb Co. (NYSE:BLCO) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.27.

Several equities analysts have issued reports on the company. Evercore lifted their price objective on Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a research report on Thursday, August 1st. HC Wainwright boosted their target price on Bausch + Lomb from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $25.00 in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their target price on Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st.

Bausch + Lomb Price Performance

Shares of BLCO stock opened at $20.18 on Tuesday. The stock’s fifty day simple moving average is $18.00 and its 200 day simple moving average is $16.21. 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 firm has a market cap of $7.10 billion, a price-to-earnings ratio of -21.02, a P/E/G ratio of 1.76 and a beta of 0.48. Bausch + Lomb has a one year low of $13.16 and a one year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $0.18 EPS. Bausch + Lomb’s quarterly revenue was up 17.5% on a year-over-year basis. On average, analysts expect that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Bausch + Lomb

In other news, CEO Brent L. Saunders acquired 32,250 shares of Bausch + Lomb stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $15.66 per share, with a total value of $505,035.00. Following the completion of the transaction, the chief executive officer now directly owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Clearline Capital LP raised its stake in Bausch + Lomb by 136.8% in the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after buying an additional 411,404 shares during the period. Invenomic Capital Management LP bought a new stake in Bausch + Lomb in the first quarter valued at approximately $6,817,000. Whitebox Advisors LLC raised its stake in Bausch + Lomb by 28.2% in the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock valued at $22,447,000 after buying an additional 339,643 shares during the period. Rokos Capital Management LLP bought a new stake in Bausch + Lomb in the first quarter valued at approximately $5,602,000. Finally, Point72 Asset Management L.P. raised its stake in Bausch + Lomb by 31.0% in the second quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock valued at $9,397,000 after buying an additional 153,000 shares during the period. 11.07% of the stock is owned by institutional investors and hedge funds.

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.