Bausch + Lomb Corporation (NYSE:BLCO) Receives Consensus Recommendation of "Hold" from Analysts

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

A number of analysts recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Bausch + Lomb in a report on Thursday, April 24th. Barclays decreased their price target on shares of Bausch + Lomb from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Monday, June 9th. Royal Bank Of Canada cut their price objective on shares of Bausch + Lomb from $18.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Morgan Stanley cut their price objective on shares of Bausch + Lomb from $18.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, HC Wainwright cut 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 report on Friday, May 2nd.

Bausch + Lomb Stock Performance

NYSE BLCO traded up $0.28 during mid-day trading on Thursday, reaching $14.25. 1,755,751 shares of the stock were exchanged, compared to its average volume of 775,715. The business's 50 day moving average is $12.64 and its 200-day moving average is $14.01. Bausch + Lomb has a 1 year low of $10.45 and a 1 year high of $21.69. The company has a market capitalization of $5.04 billion, a P/E ratio of -13.84, a P/E/G ratio of 1.61 and a beta of 0.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.96 and a current ratio of 1.56.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) earnings per share (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 for the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the company posted $0.07 earnings per share. The business's quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Bausch + Lomb will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling at Bausch + Lomb

In other news, CEO Brent L. Saunders acquired 22,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $11.28 per share, with a total value of $248,160.00. Following the purchase, the chief executive officer owned 719,156 shares of the company's stock, valued at $8,112,079.68. This represents a 3.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.76% of the company's stock.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors have recently bought and sold shares of the company. Deutsche Bank AG purchased a new stake in shares of Bausch + Lomb in the 1st quarter worth about $50,750,000. Alberta Investment Management Corp boosted its position in shares of Bausch + Lomb by 8.6% in 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 in the last quarter. Whitebox Advisors LLC boosted its position in shares of Bausch + Lomb by 16.1% in 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 in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Bausch + Lomb by 51.5% in 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 in the last quarter. Finally, King Street Capital Management L.P. boosted its position in shares of Bausch + Lomb by 55.2% in 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 in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

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.