Bausch + Lomb (NYSE:BLCO) Given a $19.00 Price Target at Citigroup

Key Points

• Citigroup initiated coverage with a $19 price target and a buy rating on Bausch + Lomb, implying about 26% upside from the current share price.
• The broader analyst view is more cautious overall: the stock has an average Hold rating, with a consensus price target of $17.92 across covering analysts.
• Bausch + Lomb recently reported better-than-expected quarterly results, with EPS of $0.08 versus $0.06 expected and revenue of $1.24 billion, while company insiders also bought shares in March.

Bausch + Lomb (NYSE:BLCO - Get Free Report) has been given a $19.00 price target by equities research analysts at Citigroup in a report released on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 25.91% from the stock's current price.

BLCO has been the subject of a number of other research reports. HC Wainwright increased their target price on shares of Bausch + Lomb from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on shares of Bausch + Lomb in a report on Thursday, April 30th. Barclays raised 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. Wells Fargo & Company raised their price objective on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, February 19th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Bausch + Lomb in a report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bausch + Lomb presently has an average rating of "Hold" and a consensus price target of $17.92.

Bausch + Lomb Price Performance

Bausch + Lomb stock traded down $0.28 during trading hours on Tuesday, reaching $15.09. 774,052 shares of the stock were exchanged, compared to its average volume of 436,457. The company has a market cap of $5.38 billion, a P/E ratio of -24.38, a price-to-earnings-growth ratio of 0.48 and a beta of 0.58. 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 twelve month low of $11.22 and a twelve month high of $18.92. The stock has a 50 day moving average of $16.07 and a two-hundred day moving average of $16.60.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted ($0.07) earnings per share. Equities analysts expect that Bausch + Lomb will post 0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brent L. Saunders purchased 14,700 shares of the stock in a transaction on Friday, March 6th. The stock was purchased at an average price of $17.14 per share, for a total transaction of $251,958.00. Following the acquisition, the chief executive officer owned 966,575 shares in the company, valued at $16,567,095.50. This trade represents a 1.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP A Robert D. Bailey purchased 14,600 shares of the stock in a transaction on Friday, March 6th. The shares were purchased at an average price of $17.15 per share, with a total value of $250,390.00. Following the acquisition, the executive vice president owned 231,890 shares in the company, valued at approximately $3,976,913.50. The trade was a 6.72% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 33,300 shares of company stock worth $570,868. 1.45% of the stock is currently owned by insiders.

Institutional Trading of Bausch + Lomb

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its stake in Bausch + Lomb by 104.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company's stock valued at $38,000 after acquiring an additional 1,136 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Bausch + Lomb by 729.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company's stock worth $30,000 after purchasing an additional 2,042 shares during the period. Royal Bank of Canada raised its stake in shares of Bausch + Lomb by 67.1% during the 1st quarter. Royal Bank of Canada now owns 3,657 shares of the company's stock worth $58,000 after purchasing an additional 1,468 shares during the period. Wells Fargo & Company MN raised its stake in shares of Bausch + Lomb by 31.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,903 shares of the company's stock worth $101,000 after purchasing an additional 1,403 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Bausch + Lomb by 55.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company's stock worth $132,000 after purchasing an additional 3,246 shares during the period. Institutional investors and hedge funds own 11.07% of the company's stock.

Bausch + Lomb Company Profile

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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