Bausch + Lomb (NYSE:BLCO) CFO Sam Eldessouky Buys 4,000 Shares of Stock

Bausch + Lomb Corporation (NYSE:BLCO) CFO Sam Eldessouky purchased 4,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $17.13 per share, for a total transaction of $68,520.00. Following the acquisition, the chief financial officer owned 403,130 shares of the company’s stock, valued at approximately $6,905,616.90. The trade was a 1.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bausch + Lomb Stock Performance

Shares of NYSE BLCO opened at $17.12 on Wednesday. Bausch + Lomb Corporation has a 12-month low of $10.45 and a 12-month high of $18.92. The company has a market cap of $6.06 billion, a PE ratio of -16.78, a P/E/G ratio of 0.73 and a beta of 0.58. The stock has a 50 day simple moving average of $17.28 and a 200-day simple moving average of $16.18. The company has a current ratio of 1.55, a quick ratio of 1.04 and a debt-to-equity ratio of 0.77.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. Bausch + Lomb had a negative net margin of 7.06% and a positive return on equity of 2.77%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, equities research analysts forecast that Bausch + Lomb Corporation will post 0.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BLCO. HC Wainwright lifted their price objective on shares of Bausch + Lomb from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Wells Fargo & Company increased their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, February 19th. Citigroup raised their target price on shares of Bausch + Lomb from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Evercore set a $18.00 price target on shares of Bausch + Lomb and gave the stock an “in-line” rating in a research report on Monday, January 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $18.00 price target on shares of Bausch + Lomb in a research note on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.25.

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oaktree Capital Management LP grew its stake in shares of Bausch + Lomb by 4.2% in the 4th quarter. Oaktree Capital Management LP now owns 3,382,739 shares of the company’s stock worth $57,777,000 after purchasing an additional 137,300 shares during the last quarter. Goldentree Asset Management LP grew its position in Bausch + Lomb by 3.0% in the third quarter. Goldentree Asset Management LP now owns 2,660,508 shares of the company’s stock worth $40,002,000 after buying an additional 77,323 shares during the last quarter. Glenview Capital Management LLC grew its position in Bausch + Lomb by 210.8% in the second quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock worth $20,216,000 after buying an additional 1,053,855 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Bausch + Lomb by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,260,306 shares of the company’s stock valued at $21,527,000 after buying an additional 23,340 shares in the last quarter. Finally, Compass Rose Asset Management LP lifted its position in shares of Bausch + Lomb by 22.0% during the 3rd quarter. Compass Rose Asset Management LP now owns 1,000,000 shares of the company’s stock valued at $15,070,000 after acquiring an additional 180,000 shares during the last quarter. 11.07% of the stock is currently owned by 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.