Bausch + Lomb Corporation (NYSE:BLCO) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts are cautious on BLCO: Bausch + Lomb has a consensus rating of "Hold" from 14 brokerages, with 1 sell, 9 hold, and 4 buy ratings. The average 12-month price target is about $18.08.
• Recent earnings beat expectations: The company reported EPS of $0.08 versus the $0.06 consensus and revenue of $1.24 billion, topping estimates and rising 9.4% year over year.
• Insiders have been buying shares: Both the CFO and CEO purchased stock in March, and insiders bought 33,300 shares worth about $570,868 over the last 90 days.

Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) has been assigned an average rating of "Hold" from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $18.0833.

BLCO has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Bausch + Lomb from $20.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Weiss Ratings reissued a "sell (d-)" rating on shares of Bausch + Lomb in a report on Monday, April 20th. Barclays boosted their price objective on shares of Bausch + Lomb from $17.00 to $20.00 and gave the company an "equal weight" rating in a report on Thursday, February 19th. HC Wainwright boosted their price objective on shares of Bausch + Lomb from $17.00 to $20.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Finally, Stifel Nicolaus set a $16.00 price objective on shares of Bausch + Lomb in a report on Thursday, February 19th.

Bausch + Lomb Price Performance

NYSE BLCO opened at $16.20 on Wednesday. The firm's fifty day simple moving average is $16.22 and its two-hundred day simple moving average is $16.59. The company has a current ratio of 1.53, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. Bausch + Lomb has a 12-month low of $10.99 and a 12-month high of $18.92. The firm has a market capitalization of $5.78 billion, a P/E ratio of -26.13, a P/E/G ratio of 0.50 and a beta of 0.59.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Bausch + Lomb had a negative net margin of 4.21% and a positive return on equity of 3.60%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share. Analysts forecast that Bausch + Lomb will post 0.82 EPS for the current fiscal year.

Insider Activity

In related news, CFO Sam Eldessouky acquired 4,000 shares of the company's stock in a transaction dated Friday, March 6th. The shares were purchased at an average cost of $17.13 per share, with a total value of $68,520.00. Following the completion of the acquisition, the chief financial officer directly owned 403,130 shares of the company's stock, valued at $6,905,616.90. This represents a 1.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brent L. Saunders acquired 14,700 shares of the company's stock in a transaction dated Friday, March 6th. The shares were bought at an average cost of $17.14 per share, for a total transaction of $251,958.00. Following the completion of the acquisition, the chief executive officer directly owned 966,575 shares of the company's stock, valued at approximately $16,567,095.50. The trade was a 1.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 33,300 shares of company stock valued at $570,868 over the last ninety days. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its position in Bausch + Lomb by 729.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company's stock valued at $30,000 after purchasing an additional 2,042 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Bausch + Lomb by 104.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company's stock valued at $38,000 after purchasing an additional 1,136 shares during the period. Royal Bank of Canada lifted its position in 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 period. Wells Fargo & Company MN lifted its position in Bausch + Lomb by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company's stock valued at $101,000 after purchasing an additional 1,403 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Bausch + Lomb by 55.3% during the third quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company's stock valued at $132,000 after purchasing an additional 3,246 shares during the period. 11.07% of the stock is currently 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.

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