Bausch + Lomb (NYSE:BLCO – Get Free Report)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports.
A number of other analysts also recently weighed in on BLCO. UBS Group started coverage on shares of Bausch + Lomb in a research report on Thursday, July 30th. They set a “buy” rating and a $21.00 target price for the company. Weiss Ratings upgraded shares of Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Citigroup upped their price objective on shares of Bausch + Lomb from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of Bausch + Lomb in a research report on Friday, August 28th. Finally, Leerink Partners assumed coverage on shares of Bausch + Lomb in a research note on Wednesday, September 9th. They set an “outperform” rating and a $24.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.15.
View Our Latest Report on BLCO
Bausch + Lomb Stock Up 2.3%
Bausch + Lomb (NYSE:BLCO – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share 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 company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company posted ($0.18) EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts anticipate that Bausch + Lomb will post 0.81 EPS for the current year.
Insider Activity at Bausch + Lomb
In other Bausch + Lomb news, Director Eschenbach Andrew C. Von sold 6,059 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $16.58, for a total transaction of $100,458.22. Following the transaction, the director directly owned 63,733 shares in the company, valued at approximately $1,056,693.14. This represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock was 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 of the company’s stock, valued at approximately $769,044.18. This trade represents a 53.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 71,459 shares of company stock valued at $1,194,370 in the last ninety days. 1.45% of the stock is currently owned by insiders.
Institutional Trading of Bausch + Lomb
Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Bausch + Lomb by 67.1% during the 1st 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 during the period. Handelsbanken Fonder AB grew its holdings in Bausch + Lomb by 34.8% in 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 period. Squarepoint Ops LLC increased its stake in Bausch + Lomb by 31.7% in the second quarter. Squarepoint Ops LLC now owns 24,379 shares of the company’s stock valued at $404,000 after purchasing an additional 5,861 shares in the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in Bausch + Lomb in the fourth quarter valued at $605,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Bausch + Lomb during the fourth quarter valued at about $787,000. Institutional investors own 11.07% of the company’s stock.
About Bausch + Lomb
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.
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