Brokerages Set Bausch + Lomb Co. (NYSE:BLCO) Target Price at $20.91

Bausch + Lomb Co. (NYSE:BLCO) has received a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.91.

A number of brokerages have recently issued reports on BLCO. Wells Fargo & Company raised their price target on shares of Bausch + Lomb from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their target price on Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price target on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Evercore boosted their price objective on shares of Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a report on Thursday, August 1st. Finally, Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and upped their target price for the company from $19.00 to $25.00 in a research report on Tuesday, October 15th.

Bausch + Lomb Price Performance

NYSE:BLCO opened at $19.57 on Friday. The stock has a 50 day moving average price of $19.74 and a 200 day moving average price of $17.01. The stock has a market cap of $6.89 billion, a PE ratio of -18.64, a P/E/G ratio of 1.91 and a beta of 0.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57. 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, October 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $0.22 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts expect that Bausch + Lomb will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLCO. River Road Asset Management LLC raised its stake in shares of Bausch + Lomb by 4.4% in the third quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock valued at $38,974,000 after acquiring an additional 85,987 shares in the last quarter. Point72 Europe London LLP raised its position in Bausch + Lomb by 28.9% in the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock valued at $9,489,000 after purchasing an additional 146,583 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Bausch + Lomb in the 2nd quarter valued at about $580,000. Clearline Capital LP grew its position in shares of Bausch + Lomb by 136.8% during the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after buying an additional 411,404 shares in the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Bausch + Lomb by 25.0% during the second quarter. Gabelli Funds LLC now owns 390,000 shares of the company’s stock worth $5,663,000 after buying an additional 78,000 shares during the period. Hedge funds and other institutional investors 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.