Brokerages Set Bausch + Lomb Corporation (NYSE:BLCO) PT at $15.45

Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $15.45.

BLCO has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of Bausch + Lomb from $15.00 to $12.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, April 24th. Barclays cut 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 research note on Monday, June 9th. HC Wainwright dropped their price objective on shares of Bausch + Lomb from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Morgan Stanley lowered their target price on shares of Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Bausch + Lomb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLCO. Deutsche Bank AG acquired a new stake in shares of Bausch + Lomb during the 1st quarter worth approximately $50,750,000. Alberta Investment Management Corp grew its position in shares of Bausch + Lomb by 8.6% during the 1st quarter. Alberta Investment Management Corp now owns 3,266,193 shares of the company's stock worth $47,360,000 after buying an additional 258,000 shares during the period. Whitebox Advisors LLC grew its position in shares of Bausch + Lomb by 16.1% during the 4th quarter. Whitebox Advisors LLC now owns 1,443,101 shares of the company's stock worth $26,062,000 after buying an additional 199,856 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Bausch + Lomb by 51.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company's stock worth $21,996,000 after buying an additional 414,138 shares during the period. Finally, King Street Capital Management L.P. grew its position in shares of Bausch + Lomb by 55.2% during the 4th quarter. King Street Capital Management L.P. now owns 1,136,321 shares of the company's stock worth $20,522,000 after buying an additional 404,256 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.

Bausch + Lomb Stock Up 2.0%

Shares of NYSE:BLCO traded up $0.28 during midday trading on Thursday, hitting $14.25. 1,755,751 shares of the company's stock traded hands, compared to its average volume of 770,148. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.96 and a current ratio of 1.56. The company has a market cap of $5.04 billion, a PE ratio of -13.84, a P/E/G ratio of 1.60 and a beta of 0.62. The firm's fifty day moving average price is $12.59 and its two-hundred day moving average price is $14.07. Bausch + Lomb has a twelve month low of $10.45 and a twelve month high of $21.69.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The business's quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Bausch + Lomb will post 0.74 EPS for the current fiscal 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.