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

Shares of Bausch + Lomb Corporation (NYSE:BLCO) have been assigned an average rating of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $18.75.

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

Bausch + Lomb Trading Up 0.9%

Shares of Bausch + Lomb stock opened at $18.16 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.55 and a quick ratio of 1.02. Bausch + Lomb has a 1 year low of $13.77 and a 1 year high of $18.92. The company has a market capitalization of $6.49 billion, a P/E ratio of -37.83, a P/E/G ratio of 0.57 and a beta of 0.56. The business has a 50 day moving average price of $16.81 and a 200 day moving average price of $16.45.

Bausch + Lomb (NYSE:BLCO) last announced its earnings results on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company posted ($0.18) EPS. Bausch + Lomb’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that Bausch + Lomb will post 0.81 EPS for the current fiscal year.

Insider Transactions at Bausch + Lomb

In related news, Director Eschenbach Andrew C. Von sold 6,059 shares of the firm’s stock in a transaction 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 sale, the director directly owned 63,733 shares of the company’s stock, valued at approximately $1,056,693.14. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Frederick Munsch sold 52,900 shares of the firm’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 value of $887,662.00. Following the sale, the chief accounting officer owned 45,831 shares of the company’s stock, valued at approximately $769,044.18. This trade represents a 53.58% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 71,459 shares of company stock valued at $1,194,370. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Bausch + Lomb

Hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its position 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 worth $364,000 after buying an additional 1,100 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Bausch + Lomb by 16.0% during the first quarter. Bank of America Corp DE now owns 65,765 shares of the company’s stock valued at $1,046,000 after purchasing an additional 9,066 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Bausch + Lomb by 67.1% during the first quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock valued at $58,000 after purchasing an additional 1,468 shares during the last quarter. Whitebox Advisors LLC raised its position in shares of Bausch + Lomb by 15.8% during the 1st quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company’s stock worth $17,519,000 after purchasing an additional 150,641 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Bausch + Lomb by 100.0% in the 1st quarter. Sei Investments Co. now owns 139,266 shares of the company’s stock worth $2,214,000 after purchasing an additional 69,633 shares during the last quarter. Institutional investors and hedge funds 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.