Bausch + Lomb Corporation (NYSE:BLCO) Receives Average Rating of "Hold" from Brokerages

Key Points

• Bausch + Lomb has a consensus “Hold” rating from 15 brokerages: eight analysts rate it a hold, six recommend buying, and one recommends selling. The average 12-month price target is approximately $19.15 versus a reported share price of $16.80.
• Recent analyst views were mixed but generally constructive, including upgraded or initiated targets ranging from $17 to $24. The company’s latest quarter showed 9.1% year-over-year revenue growth to $1.39 billion, though EPS of $0.15 narrowly missed estimates.
• Insiders sold 71,459 shares worth about $1.19 million over the last quarter, while institutional investors and hedge funds own 11.07% of the stock.

Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) has earned a consensus recommendation of "Hold" from the fifteen brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $19.1538.

A number of research firms recently issued reports on BLCO. Citigroup lifted their price target on shares of Bausch + Lomb from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Leerink Partners began coverage on shares of Bausch + Lomb in a report on Wednesday, September 9th. They set an "outperform" rating and a $24.00 price objective on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a research report on Tuesday, September 15th. Evercore set a $17.00 target price on shares of Bausch + Lomb in a research note on Monday, July 6th. Finally, HC Wainwright restated a "buy" rating and set a $21.00 price target on shares of Bausch + Lomb in a research report on Friday, August 28th.

Insider Activity at Bausch + Lomb

In other Bausch + Lomb news, CAO Frederick Munsch sold 52,900 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.78, for a total transaction of $887,662.00. Following the completion of the transaction, the chief accounting officer owned 45,831 shares of the company's stock, valued at $769,044.18. This represents a 53.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eschenbach Andrew C. Von sold 6,059 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $16.58, for a total value of $100,458.22. Following the completion of the transaction, the director owned 63,733 shares in the company, valued at approximately $1,056,693.14. This trade represents a 8.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 71,459 shares of company stock valued at $1,194,370. 1.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Whitebox Advisors LLC raised its holdings in Bausch + Lomb by 15.8% in the 1st quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company's stock valued at $17,519,000 after acquiring an additional 150,641 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Bausch + Lomb by 100.0% during the 1st quarter. Sei Investments Co. now owns 139,266 shares of the company's stock worth $2,214,000 after purchasing an additional 69,633 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Bausch + Lomb in the second quarter valued at approximately $1,479,000. Dimensional Fund Advisors LP increased its holdings in shares of Bausch + Lomb by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 85,779 shares of the company's stock valued at $1,362,000 after purchasing an additional 9,971 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Bausch + Lomb by 16.0% in the first quarter. Bank of America Corp DE now owns 65,765 shares of the company's stock valued at $1,046,000 after purchasing an additional 9,066 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Bausch + Lomb Stock Performance

NYSE BLCO opened at $16.80 on Tuesday. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of -35.00, a PEG ratio of 0.53 and a beta of 0.56. Bausch + Lomb has a twelve month low of $13.77 and a twelve month 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 stock has a 50-day moving average of $16.97 and a 200 day moving average of $16.40.

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

About Bausch + Lomb

Bausch + Lomb Corporation NYSE: BLCO is a global eye-health company that develops, manufactures and markets products for vision care, pharmaceuticals and surgical use. Its portfolio serves consumers, eye-care professionals and patients with a range of products designed to support eye health and improve vision.

The company's vision-care business includes contact lenses and lens-care products, while its pharmaceutical portfolio includes prescription and over-the-counter treatments for conditions affecting the eyes.

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