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

Key Points

• Analysts maintain a “Hold” consensus on Bausch + Lomb, with seven hold, five buy, and one sell rating among 13 firms. The average 12-month price target is $18.75, compared with the stock’s reported price of $17.11.
• Bausch + Lomb reported quarterly revenue of $1.39 billion, up 9.1% year over year and above estimates, but EPS of $0.15 slightly missed the $0.16 consensus forecast.
• Insiders sold 71,459 shares worth approximately $1.19 million over the past three months, while institutional investors and hedge funds collectively own 11.07% of the company.

Shares of Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) have earned an average rating of "Hold" from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $18.75.

Several brokerages recently weighed in on BLCO. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on shares of Bausch + Lomb in a report on Thursday, April 30th. UBS Group initiated coverage on shares of Bausch + Lomb in a report on Thursday, July 30th. They set a "buy" rating and a $21.00 target price for the company. Weiss Ratings upgraded shares of Bausch + Lomb from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 21st. Citigroup increased their price target on Bausch + Lomb from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Finally, HC Wainwright raised their price target on Bausch + Lomb from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd.

Insider Activity

In other Bausch + Lomb news, CAO Frederick Munsch sold 52,900 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.78, for a total value of $887,662.00. Following the transaction, the chief accounting officer owned 45,831 shares of the company's stock, valued at approximately $769,044.18. This represents a 53.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eschenbach Andrew C. Von sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $16.50, for a total value of $206,250.00. Following the transaction, the director owned 69,792 shares in the company, valued at approximately $1,151,568. This trade represents a 15.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 71,459 shares of company stock worth $1,194,370 in the last three months. Insiders own 1.45% of the company's stock.

Institutional Trading of Bausch + Lomb

A number of hedge funds have recently modified their holdings of BLCO. Northwestern Mutual Wealth Management Co. grew 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 purchasing an additional 2,042 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Bausch + Lomb by 104.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company's stock worth $38,000 after purchasing an additional 1,136 shares during the period. Royal Bank of Canada raised its holdings in Bausch + Lomb by 67.1% in the first 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 boosted its position in shares of Bausch + Lomb by 31.2% during the fourth 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 in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Bausch + Lomb during the third quarter worth $170,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Bausch + Lomb Stock Performance

Shares of NYSE:BLCO opened at $17.11 on Friday. The stock has a market capitalization of $6.11 billion, a P/E ratio of -35.65, a P/E/G ratio of 0.54 and a beta of 0.56. Bausch + Lomb has a 1-year low of $13.77 and a 1-year high of $18.92. The company has a current ratio of 1.55, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $16.56 and a two-hundred day moving average price of $16.42.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Bausch + Lomb had a negative net margin of 3.21% and a positive return on equity of 4.14%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business posted ($0.18) EPS. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts predict that Bausch + Lomb will post 0.81 earnings per share for the current year.

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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