Barclays Upgrades Bausch + Lomb (NYSE:BLCO) to “Strong-Buy”

Bausch + Lomb (NYSE:BLCO) was upgraded by analysts at Barclays to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

Several other research firms have also issued reports on BLCO. Weiss Ratings raised Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Citigroup boosted their price objective on Bausch + Lomb from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of Bausch + Lomb in a research note on Friday, August 28th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Tuesday, September 15th. Finally, UBS Group started coverage on shares of Bausch + Lomb in a research report on Thursday, July 30th. They issued a “buy” rating and a $21.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bausch + Lomb currently has a consensus rating of “Hold” and an average price target of $19.46.

Bausch + Lomb Stock Down 1.0%

BLCO opened at $17.16 on Wednesday. Bausch + Lomb has a fifty-two week low of $13.77 and a fifty-two week high of $18.92. The firm has a market capitalization of $6.13 billion, a P/E ratio of -35.76, a PEG ratio of 0.54 and a beta of 0.56. The company’s 50-day moving average is $17.19 and its 200 day moving average is $16.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.55 and a quick ratio of 1.02.

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

Insider Activity at Bausch + Lomb

In other Bausch + Lomb news, Director Eschenbach Andrew C. Von sold 12,500 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $16.50, for a total transaction of $206,250.00. Following the sale, the director owned 69,792 shares of the company’s stock, valued at $1,151,568. The trade was a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Frederick Munsch sold 52,900 shares of the business’s 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 directly owned 45,831 shares in the company, valued at $769,044.18. The trade was a 53.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 71,459 shares of company stock valued at $1,194,370. 1.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds and other institutional investors have recently modified their holdings of the stock. Roxbury Financial LLC bought a new position in shares of Bausch + Lomb in the third quarter valued at approximately $33,000. Royal Bank of Canada grew its stake in Bausch + Lomb by 67.1% during the first quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock valued at $58,000 after acquiring an additional 1,468 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Bausch + Lomb by 5.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 22,000 shares of the company’s stock worth $364,000 after acquiring an additional 1,100 shares during the period. Squarepoint Ops LLC increased its holdings in Bausch + Lomb by 31.7% during the 2nd quarter. Squarepoint Ops LLC now owns 24,379 shares of the company’s stock worth $404,000 after acquiring an additional 5,861 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Bausch + Lomb in the 4th quarter worth approximately $787,000. 11.07% of the stock is currently owned by institutional investors.

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.