Bausch + Lomb (NYSE:BLCO) Coverage Initiated by Analysts at Raymond James

Stock analysts at Raymond James started coverage on shares of Bausch + Lomb (NYSE:BLCO) in a report released on Wednesday, MarketBeat reports. The firm set an “outperform” rating and a $19.00 price target on the stock. Raymond James’ target price indicates a potential upside of 19.50% from the stock’s previous close.

BLCO has been the topic of several other research reports. Evercore cut their price objective on Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating on the stock in a report on Thursday, May 2nd. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Bausch + Lomb in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Wednesday, May 1st. Royal Bank of Canada cut their target price 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. Finally, Evercore ISI upped their price target on shares of Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Bausch + Lomb currently has an average rating of “Moderate Buy” and a consensus target price of $18.95.

Bausch + Lomb Stock Performance

Bausch + Lomb stock opened at $15.90 on Wednesday. The stock has a market cap of $5.59 billion, a PE ratio of -16.56, a P/E/G ratio of 1.55 and a beta of 0.47. The company has a quick ratio of 1.03, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.23. The business’s 50-day moving average price is $14.96 and its two-hundred day moving average price is $15.31.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. Bausch + Lomb’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, analysts expect that Bausch + Lomb will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of Bausch + Lomb

A number of large investors have recently bought and sold shares of BLCO. Renaissance Capital LLC increased its stake in shares of Bausch + Lomb by 27.3% in the 4th quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock valued at $382,000 after acquiring an additional 4,801 shares in the last quarter. Fore Capital LLC bought a new stake in Bausch + Lomb in the first quarter valued at $384,000. Quadrature Capital Ltd increased its stake in Bausch + Lomb by 75.8% in the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock valued at $824,000 after purchasing an additional 20,803 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Bausch + Lomb by 478.0% during the fourth quarter. Jump Financial LLC now owns 87,100 shares of the company’s stock valued at $1,486,000 after purchasing an additional 72,030 shares during the period. Finally, Allianz Asset Management GmbH bought a new position in shares of Bausch + Lomb during the 4th quarter worth about $1,706,000. 11.07% of the stock is currently 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.