Bausch + Lomb (NYSE:BLCO) Rating Increased to Hold at Zacks Research

Key Points

• Bausch + Lomb has received a "hold" rating upgrade from Zacks Research, indicating a cautious outlook for the stock.
• Wells Fargo and Citigroup both raised their price targets for Bausch + Lomb to $15.00, reflecting increasing optimism among analysts.
• CEO Brent L. Saunders purchased 22,000 shares of the company recently, signaling confidence in the firm's future performance.

Bausch + Lomb (NYSE:BLCO - Get Free Report) was upgraded by investment analysts at Zacks Research to a "hold" rating in a research note issued to investors on Tuesday, August 12th,Zacks.com reports.

BLCO has been the topic of several other reports. Needham & Company LLC reissued a "hold" rating on shares of Bausch + Lomb in a report on Thursday, April 24th. Evercore ISI increased their price target on shares of Bausch + Lomb from $15.50 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of Bausch + Lomb from $12.00 to $15.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Citigroup lifted their target price on Bausch + Lomb from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, HC Wainwright upped their price target on Bausch + Lomb from $15.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.56.

Bausch + Lomb Stock Down 0.4%

Shares of BLCO traded down $0.06 on Tuesday, reaching $14.55. The stock had a trading volume of 189,058 shares, compared to its average volume of 784,960. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.55. Bausch + Lomb has a 12-month low of $10.45 and a 12-month high of $21.69. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of -18.65, a price-to-earnings-growth ratio of 1.47 and a beta of 0.62. The company has a 50-day simple moving average of $13.48 and a 200-day simple moving average of $13.62.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. Bausch + Lomb had a positive return on equity of 2.33% and a negative net margin of 5.58%.The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company earned $0.13 earnings per share. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Bausch + Lomb has set its FY 2025 guidance at EPS. Sell-side analysts predict that Bausch + Lomb will post 0.74 EPS for the current year.

Insider Activity at Bausch + Lomb

In related news, CEO Brent L. Saunders acquired 22,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average cost of $11.28 per share, for a total transaction of $248,160.00. Following the purchase, the chief executive officer owned 719,156 shares in the company, valued at $8,112,079.68. The trade was a 3.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bausch + Lomb

Hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC bought a new stake in shares of Bausch + Lomb during the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. raised its holdings 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 acquiring an additional 2,042 shares during the period. Blue Trust Inc. lifted its position in shares of Bausch + Lomb by 58.5% in the second quarter. Blue Trust Inc. now owns 4,502 shares of the company's stock valued at $59,000 after acquiring an additional 1,662 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Bausch + Lomb by 93.8% in the second quarter. FNY Investment Advisers LLC now owns 6,200 shares of the company's stock valued at $80,000 after acquiring an additional 3,000 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Bausch + Lomb by 101.7% in the first quarter. National Bank of Canada FI now owns 6,719 shares of the company's stock worth $97,000 after acquiring an additional 3,387 shares during the period. 11.07% of the stock is currently owned by institutional investors.

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.