Bausch + Lomb Corporation (NYSE:BLCO) Stock Has Average Price Target of $19.15

Shares of Bausch + Lomb Corporation (NYSE:BLCO) have been assigned an average recommendation of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.15.

A number of research firms have recently issued reports on BLCO. Evercore set a $17.00 target price on shares of Bausch + Lomb in a research note on Monday, July 6th. Weiss Ratings raised Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Bausch + Lomb in a research report on Friday, August 28th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Tuesday, September 15th. Finally, Leerink Partners started coverage on Bausch + Lomb in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $24.00 price objective on the stock.

Insider Transactions at Bausch + Lomb

In other Bausch + Lomb news, CAO Frederick Munsch sold 52,900 shares of the 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 $769,044.18. This represents a 53.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eschenbach Andrew C. Von sold 12,500 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $16.50, for a total transaction of $206,250.00. Following the completion of 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 SEC filing for this sale provides additional information. Insiders sold 71,459 shares of company stock valued at $1,194,370 over the last ninety days. 1.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bausch + Lomb

A number of large investors have recently modified their holdings of BLCO. Whitebox Advisors LLC lifted its stake in Bausch + Lomb by 15.8% in the first quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company’s stock valued at $17,519,000 after buying an additional 150,641 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Bausch + Lomb during the 2nd quarter worth about $1,479,000. Sei Investments Co. grew its position in shares of Bausch + Lomb by 100.0% during the 1st quarter. Sei Investments Co. now owns 139,266 shares of the company’s stock worth $2,214,000 after buying an additional 69,633 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Bausch + Lomb in the 4th quarter valued at about $787,000. Finally, Knights of Columbus Asset Advisors LLC bought a new stake in shares of Bausch + Lomb in the 4th quarter valued at about $605,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

Bausch + Lomb Trading Down 1.3%

Shares of Bausch + Lomb stock opened at $16.82 on Tuesday. The stock has a market capitalization of $6.01 billion, a P/E ratio of -35.04, a price-to-earnings-growth ratio of 0.54 and a beta of 0.56. The company has a quick ratio of 1.02, a current ratio of 1.55 and a debt-to-equity ratio of 0.79. The company has a 50-day simple moving average of $17.02 and a 200 day simple moving average of $16.39. Bausch + Lomb has a 12-month low of $13.77 and a 12-month high of $18.92.

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