Bausch + Lomb (NYSE:BLCO) Receives “Hold” Rating from Needham & Company LLC

Bausch + Lomb (NYSE:BLCO)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Bausch + Lomb in a research note on Thursday, August 1st. Raymond James assumed coverage on 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 lowered their target price on shares of Bausch + Lomb from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Evercore ISI lifted their target price 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Bausch + Lomb presently has an average rating of “Moderate Buy” and a consensus price target of $18.59.

Bausch + Lomb Price Performance

BLCO opened at $15.55 on Monday. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $17.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -16.20, a P/E/G ratio of 1.47 and a beta of 0.46. The firm’s fifty day moving average price is $16.09 and its two-hundred day moving average price is $15.59.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Bausch + Lomb had a positive return on equity of 3.36% and a negative net margin of 10.15%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $0.18 earnings per share. Bausch + Lomb’s revenue was up 17.5% on a year-over-year basis. As a group, analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Bausch + Lomb

In other Bausch + Lomb news, CEO Brent L. Saunders acquired 32,250 shares of the company’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $15.66 per share, with a total value of $505,035.00. Following the purchase, the chief executive officer now directly owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Bausch + Lomb

A number of large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. increased its position in shares of Bausch + Lomb by 31.0% during the second quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock worth $9,397,000 after acquiring an additional 153,000 shares during the period. Clearline Capital LP grew its stake in Bausch + Lomb by 136.8% in the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after purchasing an additional 411,404 shares in the last quarter. Point72 Europe London LLP increased its holdings in Bausch + Lomb by 28.9% during the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after purchasing an additional 146,583 shares during the period. Squarepoint Ops LLC bought a new stake in Bausch + Lomb during the 2nd quarter valued at $173,000. Finally, Whitebox Advisors LLC lifted its holdings in shares of Bausch + Lomb by 28.2% in the 2nd quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after buying an additional 339,643 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.