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

Bausch + Lomb Corporation (NYSE:BLCO) has been given an average recommendation of “Hold” by the fifteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $19.46.

A number of research analysts recently weighed in on BLCO shares. Weiss Ratings raised Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. UBS Group began coverage on Bausch + Lomb in a report on Thursday, July 30th. They issued a “buy” rating and a $21.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of Bausch + Lomb in a report on Friday, August 28th. Citigroup boosted their target price on shares of Bausch + Lomb from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Tuesday, September 15th.

Insider Transactions at Bausch + Lomb

In related news, CAO Frederick Munsch sold 52,900 shares of the business’s stock in a transaction dated 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 approximately $769,044.18. The trade was a 53.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eschenbach Andrew C. Von sold 12,500 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $16.50, for a total transaction of $206,250.00. Following the transaction, the director owned 69,792 shares in the company, valued at $1,151,568. The trade was a 15.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,459 shares of company stock valued at $1,194,370 in the last quarter. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLCO. Handelsbanken Fonder AB grew its holdings in Bausch + Lomb by 5.3% in the second quarter. Handelsbanken Fonder AB now owns 22,000 shares of the company’s stock valued at $364,000 after purchasing an additional 1,100 shares during the last quarter. Royal Bank of Canada increased its position in shares of Bausch + Lomb by 67.1% in the first quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock valued at $58,000 after buying an additional 1,468 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Bausch + Lomb in the third quarter valued at $33,000. Squarepoint Ops LLC raised its stake in shares of 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 buying an additional 5,861 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Bausch + Lomb by 16.0% during the 1st quarter. Bank of America Corp DE now owns 65,765 shares of the company’s stock worth $1,046,000 after buying an additional 9,066 shares during the last quarter. 11.07% of the stock is owned by hedge funds and other institutional investors.

Bausch + Lomb Stock Performance

Shares of BLCO stock opened at $16.62 on Friday. The company has a market cap of $5.94 billion, a price-to-earnings ratio of -34.62, a price-to-earnings-growth ratio of 0.52 and a beta of 0.56. The stock has a 50 day simple moving average of $17.15 and a 200-day simple moving average of $16.46. Bausch + Lomb has a 12-month low of $14.44 and a 12-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.

Bausch + Lomb (NYSE:BLCO) last posted 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). 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 analyst estimates of $1.37 billion. During the same period in the prior year, the business earned ($0.18) earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts forecast that Bausch + Lomb will post 0.81 EPS for the current 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, ophthalmic pharmaceuticals and eye surgery. The company serves consumers, eye-care professionals, hospitals and surgical centers through a portfolio spanning contact lenses, contact-lens care products, prescription medicines, over-the-counter eye-care products and surgical equipment.

Its vision-care portfolio includes the Biotrue and INFUSE contact-lens brands, as well as solutions and other products used to clean and maintain contact lenses.