Bausch + Lomb (NYSE:BLCO) Given New $15.00 Price Target at Evercore

Bausch + Lomb (NYSE:BLCO) had its target price dropped by investment analysts at Evercore from $17.00 to $15.00 in a report issued on Thursday, BayStreet.CA reports. The brokerage presently has an “in-line” rating on the stock. Evercore’s price target indicates a potential upside of 10.29% from the stock’s current price.

Several other research firms also recently commented on BLCO. Barclays upped their price target on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Evercore ISI raised their target price on shares of Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Bausch + Lomb in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on Bausch + Lomb from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bausch + Lomb has a consensus rating of “Hold” and an average target price of $19.27.

Bausch + Lomb Stock Down 1.9 %

Bausch + Lomb stock opened at $13.60 on Thursday. The company’s 50-day moving average price is $15.84 and its two-hundred day moving average price is $15.63. The company has a quick ratio of 1.09, a current ratio of 1.74 and a debt-to-equity ratio of 0.65. The stock has a market cap of $4.78 billion, a P/E ratio of -14.17, a P/E/G ratio of 1.33 and a beta of 0.47. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.95.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). Bausch + Lomb had a positive return on equity of 3.57% 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 period in the previous year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, analysts expect that Bausch + Lomb will post 0.65 EPS for the current year.

Institutional Trading of Bausch + Lomb

Several large investors have recently bought and sold shares of the business. Eminence Capital LP increased its holdings in shares of Bausch + Lomb by 11.7% during the third quarter. Eminence Capital LP now owns 5,994,806 shares of the company’s stock worth $101,612,000 after buying an additional 626,431 shares in the last quarter. Maple Rock Capital Partners Inc. increased its holdings in Bausch + Lomb by 11.5% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,220,062 shares of the company’s stock worth $54,580,000 after purchasing an additional 333,000 shares in the last quarter. River Road Asset Management LLC raised its position in Bausch + Lomb by 21.6% in the fourth quarter. River Road Asset Management LLC now owns 1,938,207 shares of the company’s stock valued at $33,066,000 after purchasing an additional 343,772 shares during the last quarter. Freshford Capital Management LLC boosted its stake in shares of Bausch + Lomb by 29.8% during the fourth quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock valued at $29,925,000 after purchasing an additional 403,062 shares in the last quarter. Finally, Alberta Investment Management Corp grew its holdings in shares of Bausch + Lomb by 39.1% during the third quarter. Alberta Investment Management Corp now owns 1,351,793 shares of the company’s stock worth $22,913,000 after purchasing an additional 380,000 shares during the last quarter. 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.