Sam Eldessouky Acquires 4,000 Shares of Bausch + Lomb (NYSE:BLCO) Stock

Bausch + Lomb Corporation (NYSE:BLCO) CFO Sam Eldessouky bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average price of $17.13 per share, for a total transaction of $68,520.00. Following the completion of the acquisition, the chief financial officer owned 403,130 shares in the company, valued at approximately $6,905,616.90. This trade represents a 1.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bausch + Lomb Stock Performance

Bausch + Lomb stock opened at $17.48 on Thursday. The firm has a market capitalization of $6.19 billion, a PE ratio of -17.14, a price-to-earnings-growth ratio of 0.72 and a beta of 0.58. Bausch + Lomb Corporation has a one year low of $10.45 and a one year high of $18.92. The stock’s 50 day moving average price is $17.29 and its 200 day moving average price is $16.19. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.04 and a current ratio of 1.55.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. Bausch + Lomb had a negative net margin of 7.06% and a positive return on equity of 2.77%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. As a group, sell-side analysts expect that Bausch + Lomb Corporation will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

Several large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Bausch + Lomb by 104.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock worth $38,000 after purchasing an additional 1,136 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Bausch + Lomb by 729.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock worth $30,000 after purchasing an additional 2,042 shares during the period. Wells Fargo & Company MN lifted its position in shares of Bausch + Lomb by 31.2% in the 4th quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock worth $101,000 after buying an additional 1,403 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Bausch + Lomb by 55.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company’s stock valued at $132,000 after buying an additional 3,246 shares during the period. Finally, Invesco Ltd. acquired a new position in shares of Bausch + Lomb in the 4th quarter valued at about $178,000. 11.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BLCO shares. Royal Bank Of Canada lifted their price target on shares of Bausch + Lomb from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Evercore set a $18.00 price target on Bausch + Lomb and gave the stock an “in-line” rating in a research note on Monday, January 5th. Citigroup increased their price target on Bausch + Lomb from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 19th. HC Wainwright raised their price objective on Bausch + Lomb from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $18.00 price objective on shares of Bausch + Lomb in a report on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.25.

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.