Bausch + Lomb (NYSE:BLCO) Upgraded to “Outperform” by Evercore ISI

Evercore ISI upgraded shares of Bausch + Lomb (NYSE:BLCO) from an in-line rating to an outperform rating in a research note released on Tuesday morning, MarketBeat reports. The firm currently has $25.00 price target on the stock, up from their prior price target of $19.00.

Several other brokerages have also commented on BLCO. HC Wainwright increased their price target on shares of Bausch + Lomb from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Evercore increased their price target on shares of Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a research note on Thursday, August 1st. Raymond James initiated coverage on shares of Bausch + Lomb in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price target on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Bausch + Lomb Stock Up 0.8 %

BLCO stock opened at $20.93 on Tuesday. The company’s 50 day moving average price is $17.61 and its 200 day moving average price is $16.10. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.65. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.69. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of -21.80, a PEG ratio of 1.76 and a beta of 0.48.

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

Insider Buying and Selling

In related news, CEO Brent L. Saunders purchased 32,250 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $15.66 per share, with a total value of $505,035.00. Following the completion of the acquisition, the chief executive officer now directly owns 595,169 shares in the company, valued at $9,320,346.54. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Bausch + Lomb

Several hedge funds have recently modified their holdings of BLCO. Blue Trust Inc. raised its position in Bausch + Lomb by 14,052.2% in the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after acquiring an additional 3,232 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Bausch + Lomb in the second quarter worth $173,000. Fore Capital LLC purchased a new position in Bausch + Lomb in the first quarter worth $384,000. Renaissance Capital LLC raised its position in Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after acquiring an additional 669 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Bausch + Lomb in the second quarter worth $580,000. 11.07% of the stock is 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.