Bausch + Lomb Corporation (NYSE:BLCO) Given Consensus Rating of “Hold” by Analysts

Bausch + Lomb Corporation (NYSE:BLCO) has been given a consensus recommendation of “Hold” by the eleven analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $15.5556.

Several brokerages recently commented on BLCO. Morgan Stanley lifted their target price on shares of Bausch + Lomb from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Zacks Research raised Bausch + Lomb to a “hold” rating in a research note on Tuesday, August 12th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, April 24th. Evercore ISI lifted their target price on shares of Bausch + Lomb from $15.50 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Finally, Citigroup raised their price objective on shares of Bausch + Lomb from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th.

Insiders Place Their Bets

In other news, CEO Brent L. Saunders acquired 22,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average price of $11.28 per share, for a total transaction of $248,160.00. Following the completion of the transaction, the chief executive officer directly owned 719,156 shares in the company, valued at approximately $8,112,079.68. This trade represents a 3.16% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by insiders.

Institutional Trading of Bausch + Lomb

Several hedge funds have recently made changes to their positions in BLCO. Allianz Asset Management GmbH bought a new position in Bausch + Lomb during the 1st quarter valued at about $4,712,000. Renaissance Technologies LLC purchased a new position in Bausch + Lomb during the 4th quarter valued at $372,000. Tabor Asset Management LP bought a new position in Bausch + Lomb in the 1st quarter valued at $338,000. Dimensional Fund Advisors LP grew its position in Bausch + Lomb by 66.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 109,619 shares of the company’s stock valued at $1,979,000 after acquiring an additional 43,740 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Bausch + Lomb in the fourth quarter worth $735,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Bausch + Lomb Trading Up 3.1%

Shares of BLCO opened at $14.52 on Monday. Bausch + Lomb has a twelve month low of $10.45 and a twelve month high of $21.69. The stock has a market cap of $5.14 billion, a PE ratio of -18.62, a P/E/G ratio of 1.48 and a beta of 0.62. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $13.39 and its 200-day moving average price is $13.63.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, July 30th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Bausch + Lomb had a positive return on equity of 2.33% and a negative net margin of 5.58%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 earnings per share. On average, equities analysts forecast that Bausch + Lomb will post 0.74 EPS for the current fiscal 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.