Insider Buying: Bausch + Lomb (NYSE:BLCO) CFO Purchases $68,520.00 in Stock

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

Bausch + Lomb Trading Down 5.2%

Shares of NYSE BLCO opened at $16.59 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.55 and a quick ratio of 1.04. The business has a fifty day moving average price of $17.28 and a 200 day moving average price of $16.20. Bausch + Lomb Corporation has a 1-year low of $10.45 and a 1-year high of $18.92. The stock has a market capitalization of $5.89 billion, a P/E ratio of -16.26, a price-to-earnings-growth ratio of 0.74 and a beta of 0.58.

Bausch + Lomb (NYSE:BLCO) last released its earnings results 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). Bausch + Lomb had a positive return on equity of 2.77% and a negative net margin of 7.06%.The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts expect that Bausch + Lomb Corporation will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in Bausch + Lomb by 729.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock valued at $30,000 after purchasing an additional 2,042 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Bausch + Lomb by 104.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $38,000 after purchasing an additional 1,136 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Bausch + Lomb by 31.2% during 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Bausch + Lomb by 55.3% during the third quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company’s stock valued at $132,000 after acquiring an additional 3,246 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Bausch + Lomb during the third quarter valued at about $170,000. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on BLCO shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $18.00 target price on shares of Bausch + Lomb in a research report on Thursday, February 19th. HC Wainwright upped their target price on shares of Bausch + Lomb from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bausch + Lomb in a research note on Wednesday, January 21st. Wells Fargo & Company raised their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 19th. Finally, Stifel Nicolaus set a $16.00 target price on Bausch + Lomb in a report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.