Bausch + Lomb’s (BLCO) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Bausch + Lomb (NYSE:BLCO) in a research note published on Thursday, Benzinga reports. Royal Bank of Canada currently has a $20.00 price target on the stock.

BLCO has been the topic of several other reports. Morgan Stanley raised Bausch + Lomb from an equal weight rating to an overweight rating and raised their target price for the stock from $16.00 to $18.00 in a research report on Monday, May 6th. Evercore ISI increased their price objective on shares of Bausch + Lomb from $15.00 to $15.50 and gave the stock an in-line rating in a research note on Tuesday, July 2nd. Raymond James began coverage on shares of Bausch + Lomb in a research report on Wednesday, July 10th. They set an outperform rating and a $19.00 target price for the company. 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. Finally, Needham & Company LLC restated a hold rating on shares of Bausch + Lomb in a research note on Thursday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $18.59.

Bausch + Lomb Stock Performance

Shares of NYSE BLCO opened at $16.00 on Thursday. 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 firm’s 50-day moving average price is $15.53 and its 200-day moving average price is $15.36. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $20.06. The company has a market cap of $5.63 billion, a PE ratio of -17.01, a PEG ratio of 1.75 and a beta of 0.47.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.33%. The firm’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. As a group, analysts anticipate that Bausch + Lomb will post 0.63 EPS for the current year.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in shares of Bausch + Lomb by 14,052.2% during 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 during the last quarter. Renaissance Capital LLC grew its holdings in Bausch + Lomb by 57.2% during the 2nd quarter. Renaissance Capital LLC now owns 36,286 shares of the company’s stock valued at $527,000 after buying an additional 13,210 shares in the last quarter. Rokos Capital Management LLP purchased a new position in shares of Bausch + Lomb in the first quarter valued at $5,602,000. Invenomic Capital Management LP bought a new stake in Bausch + Lomb in the first quarter worth $6,817,000. Finally, Whitebox Advisors LLC lifted its position in Bausch + Lomb by 29.3% during the first quarter. Whitebox Advisors LLC now owns 1,206,303 shares of the company’s stock valued at $20,869,000 after purchasing an additional 273,484 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Company Profile

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.