Needham & Company LLC Reiterates “Hold” Rating for Bausch + Lomb (NYSE:BLCO)

Bausch + Lomb (NYSE:BLCO)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports.

Other equities analysts have also recently issued reports about the stock. Evercore set a $17.00 target price on shares of Bausch + Lomb in a research report on Monday, July 6th. Leerink Partners began coverage on shares of Bausch + Lomb in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $24.00 price objective on the stock. UBS Group assumed coverage on shares of Bausch + Lomb in a research report on Thursday, July 30th. They set a “buy” rating and a $21.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of Bausch + Lomb in a research note on Friday, August 28th. Finally, Citigroup raised their target price on Bausch + Lomb from $19.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bausch + Lomb presently has an average rating of “Hold” and a consensus target price of $19.15.

Bausch + Lomb Stock Performance

BLCO opened at $17.64 on Tuesday. 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 52-week low of $13.77 and a 52-week high of $18.92. The firm has a market cap of $6.30 billion, a P/E ratio of -36.75, a price-to-earnings-growth ratio of 0.54 and a beta of 0.56. The business’s fifty day moving average is $16.94 and its 200-day moving average is $16.45.

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

Insider Buying and Selling

In related news, Director Eschenbach Andrew C. Von sold 6,059 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $16.58, for a total value of $100,458.22. Following the completion of the transaction, the director owned 63,733 shares of the company’s stock, valued at $1,056,693.14. This represents a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Frederick Munsch sold 52,900 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 45,831 shares in the company, valued at $769,044.18. This represents a 53.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 71,459 shares of company stock worth $1,194,370. 1.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Bausch + Lomb by 67.1% in the 1st quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock worth $58,000 after purchasing an additional 1,468 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Bausch + Lomb by 34.8% during the fourth quarter. Handelsbanken Fonder AB now owns 20,900 shares of the company’s stock worth $357,000 after purchasing an additional 5,400 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Bausch + Lomb by 31.7% during the second quarter. Squarepoint Ops LLC now owns 24,379 shares of the company’s stock worth $404,000 after purchasing an additional 5,861 shares during the last quarter. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Bausch + Lomb in the fourth quarter valued at approximately $605,000. Finally, Fox Run Management L.L.C. bought a new position in Bausch + Lomb in the 4th quarter valued at approximately $787,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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 use. Its portfolio serves consumers, eye-care professionals and patients with a range of products designed to support eye health and improve vision.

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