Bausch + Lomb Corporation (NYSE:BLCO) Stock Has Average Price Target of $19.15

Shares of Bausch + Lomb Corporation (NYSE:BLCO) have been given an average rating of “Hold” by the fifteen brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $19.15.

A number of equities analysts have issued reports on BLCO shares. Leerink Partners started coverage on shares of Bausch + Lomb in a research report on Wednesday, September 9th. They set an “outperform” rating and a $24.00 price target for the company. UBS Group initiated coverage on shares of Bausch + Lomb in a report on Thursday, July 30th. They issued a “buy” rating and a $21.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Bausch + Lomb in a research note on Friday, August 28th. Weiss Ratings raised shares of Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Finally, Citigroup boosted their target price on shares of Bausch + Lomb from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th.

Bausch + Lomb Stock Up 0.5%

Bausch + Lomb stock opened at $16.95 on Tuesday. The business’s 50-day simple moving average is $17.05 and its two-hundred day simple moving average is $16.39. 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 company has a market cap of $6.06 billion, a PE ratio of -35.30, a PEG ratio of 0.53 and a beta of 0.56. Bausch + Lomb has a fifty-two week low of $13.77 and a fifty-two week high of $18.92.

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

Insider Activity

In other Bausch + Lomb news, Director Eschenbach Andrew C. Von sold 6,059 shares of Bausch + Lomb stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $16.58, for a total transaction of $100,458.22. Following the completion of the transaction, the director owned 63,733 shares in the company, valued at approximately $1,056,693.14. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Frederick Munsch sold 52,900 shares of Bausch + Lomb stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.78, for a total value of $887,662.00. Following the transaction, the chief accounting officer owned 45,831 shares of the company’s stock, valued at $769,044.18. The trade was a 53.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 71,459 shares of company stock worth $1,194,370 over the last ninety days. 1.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP purchased a new position in shares of Bausch + Lomb during the second quarter worth $1,479,000. Squarepoint Ops LLC raised its holdings in shares of Bausch + Lomb by 31.7% in the 2nd quarter. Squarepoint Ops LLC now owns 24,379 shares of the company’s stock valued at $404,000 after buying an additional 5,861 shares during the period. Handelsbanken Fonder AB lifted its stake in Bausch + Lomb by 5.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 22,000 shares of the company’s stock worth $364,000 after acquiring an additional 1,100 shares in the last quarter. Bank of America Corp DE lifted its stake in Bausch + Lomb by 16.0% during the 1st quarter. Bank of America Corp DE now owns 65,765 shares of the company’s stock worth $1,046,000 after acquiring an additional 9,066 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Bausch + Lomb by 67.1% during the 1st quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock valued at $58,000 after acquiring an additional 1,468 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

About Bausch + Lomb

Bausch + Lomb Corporation (NYSE: BLCO) is a global eye-health company that develops, manufactures and markets products for vision care, pharmaceuticals and surgical use. Its portfolio serves consumers, eye-care professionals and patients with a range of products designed to support eye health and improve vision.

The company’s vision-care business includes contact lenses and lens-care products, while its pharmaceutical portfolio includes prescription and over-the-counter treatments for conditions affecting the eyes.