Bausch + Lomb Corporation (NYSE:BLCO) Receives $15.54 Average Price Target from Analysts

Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) has earned an average recommendation of "Hold" from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $15.54.

Several analysts recently weighed in on the company. Citigroup dropped their price objective on Bausch + Lomb from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Barclays dropped their target price on shares of Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating for the company in a report on Monday, June 9th. Morgan Stanley decreased their price target on shares of Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on shares of Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, HC Wainwright dropped their price objective on shares of Bausch + Lomb from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, May 2nd.

Insider Activity at Bausch + Lomb

In other news, CEO Brent L. Saunders bought 22,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $11.28 per share, with a total value of $248,160.00. Following the transaction, the chief executive officer now owns 719,156 shares of the company's stock, valued at $8,112,079.68. This trade represents a 3.16% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bausch + Lomb

Institutional investors have recently modified their holdings of the company. National Bank of Canada FI lifted its holdings in Bausch + Lomb by 101.7% in the first quarter. National Bank of Canada FI now owns 6,719 shares of the company's stock valued at $97,000 after buying an additional 3,387 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of Bausch + Lomb in the 4th quarter worth about $181,000. Alpine Global Management LLC bought a new position in shares of Bausch + Lomb in the 4th quarter worth about $181,000. Covestor Ltd bought a new stake in shares of Bausch + Lomb during the 4th quarter valued at about $188,000. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Bausch + Lomb during the 4th quarter valued at about $225,000. 11.07% of the stock is owned by institutional investors.

Bausch + Lomb Price Performance

BLCO stock traded up $0.34 during mid-day trading on Friday, hitting $12.41. The stock had a trading volume of 1,124,097 shares, compared to its average volume of 700,185. The firm has a fifty day simple moving average of $11.92 and a 200 day simple moving average of $14.59. The firm has a market capitalization of $4.39 billion, a P/E ratio of -12.05, a P/E/G ratio of 1.40 and a beta of 0.56. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. Bausch + Lomb has a 52 week low of $10.45 and a 52 week high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). Bausch + Lomb had a positive return on equity of 2.62% and a negative net margin of 7.50%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $0.07 EPS. The business's revenue was up 3.5% on a year-over-year basis. As a group, research analysts forecast that Bausch + Lomb will post 0.74 EPS for the current year.

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.