Bausch + Lomb’s (BLCO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Bausch + Lomb (NYSE:BLCO) in a research report released on Friday morning,Benzinga reports. HC Wainwright currently has a $21.00 target price on the stock.

BLCO has been the topic of a number of other research reports. UBS Group started coverage on Bausch + Lomb in a report on Thursday, July 30th. They issued a “buy” rating and a $21.00 target price on the stock. Weiss Ratings upgraded Bausch + Lomb from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Citigroup increased their price target on Bausch + Lomb from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on Bausch + Lomb in a research note on Thursday, April 30th. Finally, Evercore set a $17.00 price objective on shares of Bausch + Lomb in a report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.75.

Bausch + Lomb Trading Down 0.1%

NYSE:BLCO opened at $17.13 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.55 and a quick ratio of 1.02. The firm has a 50-day moving average of $16.61 and a 200-day moving average of $16.43. The company has a market cap of $6.12 billion, a PE ratio of -35.69, a PEG ratio of 0.54 and a beta of 0.55. Bausch + Lomb has a one year low of $13.77 and a one year high of $18.92.

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

Insider Transactions at Bausch + Lomb

In other news, 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 trade represents a 53.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eschenbach Andrew C. Von sold 12,500 shares of Bausch + Lomb stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $16.50, for a total transaction of $206,250.00. Following the completion of the sale, the director directly owned 69,792 shares in the company, valued at $1,151,568. This trade represents a 15.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 71,459 shares of company stock worth $1,194,370 over the last three months. 1.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors and hedge funds have recently bought and sold shares of BLCO. Northwestern Mutual Wealth Management Co. raised its stake in shares of Bausch + Lomb by 729.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock valued at $30,000 after buying an additional 2,042 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Bausch + Lomb by 104.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock worth $38,000 after acquiring an additional 1,136 shares during the last quarter. Royal Bank of Canada raised its stake in Bausch + Lomb by 67.1% in 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. Wells Fargo & Company MN lifted its holdings in Bausch + Lomb by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock valued at $101,000 after purchasing an additional 1,403 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in Bausch + Lomb during the third quarter worth about $170,000. 11.07% of the stock is owned by institutional investors.

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.