Bausch + Lomb Corporation (NYSE:BLCO) Stock Has Average Price Target of $19.46

Key Points

• Analysts broadly rate Bausch + Lomb “Hold,” with seven hold, six buy, one strong-buy and one sell recommendation. The average 12-month price target is $19.46, versus a stock price of $16.42.
• Recent quarterly results were mixed: revenue rose 9.1% year over year to $1.39 billion, exceeding estimates, while earnings per share of $0.15 narrowly missed the $0.16 consensus.
• Insiders sold 71,459 shares worth approximately $1.19 million over the past 90 days, while institutional ownership stands at 11.07% and insider ownership at 1.45%.

Shares of Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) have been given a consensus recommendation of "Hold" by the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $19.46.

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

Insider Buying and Selling at Bausch + Lomb

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

Institutional Trading of Bausch + Lomb

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Engineers Gate Manager LP purchased a new position in Bausch + Lomb in the second quarter valued at about $1,479,000. Whitebox Advisors LLC grew its stake in Bausch + Lomb by 15.8% during the 1st quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company's stock valued at $17,519,000 after purchasing an additional 150,641 shares in the last quarter. Sei Investments Co. grew its stake in Bausch + Lomb by 100.0% during the 1st quarter. Sei Investments Co. now owns 139,266 shares of the company's stock valued at $2,214,000 after purchasing an additional 69,633 shares in the last quarter. Bank of America Corp DE grew its stake in Bausch + Lomb by 16.0% during the 1st 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Bausch + Lomb by 13.2% during the 1st 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 in the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Price Performance

BLCO stock opened at $16.42 on Friday. The firm has a market cap of $5.87 billion, a P/E ratio of -34.21, a price-to-earnings-growth ratio of 0.52 and a beta of 0.56. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.55. Bausch + Lomb has a 1 year low of $14.44 and a 1 year high of $18.92. The stock has a 50-day simple moving average of $17.15 and a 200-day simple moving average of $16.45.

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

Bausch + Lomb Company Profile

Bausch + Lomb Corporation NYSE: BLCO is a global eye-health company that develops, manufactures and markets products for vision care, pharmaceuticals and surgical applications. Its portfolio is intended to address a broad range of eye conditions and support patients, eye-care professionals and surgical specialists.

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

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