Bausch + Lomb Corporation (NYSE:BLCO) Receives Average Recommendation of “Hold” from Analysts

Bausch + Lomb Corporation (NYSE:BLCO) has been given a consensus recommendation of “Hold” by the thirteen analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $18.75.

Several equities analysts have weighed in on the company. Citigroup upped their target price on Bausch + Lomb from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. UBS Group initiated coverage on Bausch + Lomb in a research report on Thursday, July 30th. They issued a “buy” rating and a $21.00 price target on the stock. Weiss Ratings raised Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of Bausch + Lomb in a research report on Friday, August 28th. Finally, Evercore set a $17.00 price objective on shares of Bausch + Lomb in a research note on Monday, July 6th.

Bausch + Lomb Stock Performance

Shares of NYSE:BLCO opened at $17.88 on Friday. Bausch + Lomb has a 12-month low of $13.77 and a 12-month high of $18.92. The company’s 50 day moving average price is $16.71 and its two-hundred day moving average price is $16.43. The firm has a market cap of $6.39 billion, a PE ratio of -37.25, a PEG ratio of 0.55 and a beta of 0.56. The company has a quick ratio of 1.02, a current ratio of 1.55 and a debt-to-equity ratio of 0.79.

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

Insider Buying and Selling

In other news, CAO Frederick Munsch sold 52,900 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 45,831 shares of the company’s stock, valued at approximately $769,044.18. This represents a 53.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eschenbach Andrew C. Von sold 6,059 shares of Bausch + Lomb stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $16.58, for a total transaction of $100,458.22. Following the completion of the transaction, the director directly owned 63,733 shares in the company, valued at $1,056,693.14. This trade represents a 8.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 71,459 shares of company stock valued at $1,194,370. 1.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bausch + Lomb

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its position in 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 purchasing an additional 1,136 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Bausch + Lomb by 729.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock valued at $30,000 after buying an additional 2,042 shares in the last quarter. Royal Bank of Canada boosted its position in Bausch + Lomb by 67.1% in the first quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock valued at $58,000 after buying an additional 1,468 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Bausch + Lomb by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock worth $101,000 after buying an additional 1,403 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Bausch + Lomb during the fourth quarter worth $178,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.