Evercore ISI Raises Bausch + Lomb (NYSE:BLCO) Price Target to $15.50

Bausch + Lomb (NYSE:BLCO) had its price objective raised by Evercore ISI from $15.00 to $15.50 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has an in-line rating on the stock.

Several other analysts have also commented on the stock. Royal Bank of Canada lowered their price target on shares of Bausch + Lomb from $20.00 to $18.00 and set an outperform rating on the stock in a research report on Monday, April 22nd. Morgan Stanley upgraded shares of Bausch + Lomb from an equal weight rating to an overweight rating and increased their price target for the company from $16.00 to $18.00 in a research report on Monday, May 6th. HC Wainwright reiterated a buy rating and issued a $20.00 price target on shares of Bausch + Lomb in a research report on Thursday, May 2nd. Evercore lowered their price target on shares of Bausch + Lomb from $17.00 to $15.00 and set an in-line rating on the stock in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reissued a hold rating on shares of Bausch + Lomb in a research note on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $18.95.

Bausch + Lomb Trading Up 0.4 %

Shares of Bausch + Lomb stock opened at $14.72 on Tuesday. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.23. The company has a quick ratio of 1.03, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The company’s 50-day simple moving average is $14.87 and its 200-day simple moving average is $15.31. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of -15.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.47.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Bausch + Lomb will post 0.64 earnings per share for the current year.

Institutional Investors Weigh In On Bausch + Lomb

Several large investors have recently made changes to their positions in BLCO. Rokos Capital Management LLP bought a new position in shares of Bausch + Lomb in the 1st quarter worth about $5,602,000. Invenomic Capital Management LP bought a new position in shares of Bausch + Lomb in the 1st quarter worth about $6,817,000. Whitebox Advisors LLC lifted its position in shares of Bausch + Lomb by 29.3% in the 1st quarter. Whitebox Advisors LLC now owns 1,206,303 shares of the company’s stock worth $20,869,000 after buying an additional 273,484 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Bausch + Lomb by 3.3% in the 1st quarter. Gabelli Funds LLC now owns 312,000 shares of the company’s stock worth $5,398,000 after buying an additional 10,000 shares during the last quarter. Finally, Fore Capital LLC bought a new stake in Bausch + Lomb in the 1st quarter valued at about $384,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.