Bausch + Lomb (NYSE:BLCO) Upgraded by Leerink Partners to “Strong-Buy” Rating

Bausch + Lomb (NYSE:BLCO) was upgraded by investment analysts at Leerink Partners to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Citigroup boosted their price target on Bausch + Lomb from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of Bausch + Lomb in a research note on Friday, August 28th. Evercore set a $17.00 target price on Bausch + Lomb in a research note on Monday, July 6th. Finally, UBS Group started coverage on Bausch + Lomb in a research report on Thursday, July 30th. They set a “buy” rating and a $21.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.15.

Bausch + Lomb Price Performance

Shares of NYSE:BLCO opened at $17.82 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.55. The stock has a market cap of $6.37 billion, a PE ratio of -37.12, a price-to-earnings-growth ratio of 0.56 and a beta of 0.56. Bausch + Lomb has a one year low of $13.77 and a one year high of $18.92. The business’s fifty day moving average price is $16.92 and its two-hundred day moving average price is $16.46.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Bausch + Lomb had a negative net margin of 3.21% and a positive return on equity of 4.14%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm posted ($0.18) earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that Bausch + Lomb will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at Bausch + Lomb

In related news, Director Eschenbach Andrew C. Von sold 6,059 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $16.58, for a total transaction of $100,458.22. Following the transaction, the director directly owned 63,733 shares of the company’s stock, valued at approximately $1,056,693.14. The trade was a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Frederick Munsch sold 52,900 shares of Bausch + Lomb stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.78, for a total transaction of $887,662.00. Following the sale, the chief accounting officer directly owned 45,831 shares of the company’s stock, valued at $769,044.18. This trade represents a 53.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 71,459 shares of company stock worth $1,194,370. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Bausch + Lomb

Hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its position in Bausch + Lomb by 3.9% in the fourth quarter. Cetera Investment Advisers now owns 18,713 shares of the company’s stock worth $320,000 after purchasing an additional 711 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Bausch + Lomb by 38.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,757 shares of the company’s stock valued at $64,000 after buying an additional 1,039 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Bausch + Lomb by 5.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 22,000 shares of the company’s stock valued at $364,000 after buying an additional 1,100 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Bausch + Lomb by 104.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock worth $38,000 after acquiring an additional 1,136 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Bausch + Lomb by 31.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock valued at $101,000 after acquiring an additional 1,403 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

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.