Bausch + Lomb Corporation (NYSE:BLCO) Stock Has Average Target Price of $20.83

Bausch + Lomb Corporation (NYSE:BLCO) has received an average rating of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $20.83.

A number of equities analysts recently issued reports on BLCO shares. Zacks Research raised Bausch + Lomb from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Deutsche Bank reiterated a “hold” rating and issued a $20.00 price objective on shares of Bausch + Lomb in a research report on Thursday, October 29th. Wells Fargo & Company raised their target price on shares of Bausch + Lomb from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. Barclays raised shares of Bausch + Lomb to a “strong-buy” rating in a report on Wednesday, October 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research note on Tuesday, September 15th.

Insiders Place Their Bets

In other Bausch + Lomb news, CAO Frederick Munsch sold 112,015 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $20.48, for a total transaction of $2,294,067.20. Following the transaction, the chief accounting officer owned 45,831 shares in the company, valued at approximately $938,618.88. The trade was a 70.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.45% of the company’s stock.

Institutional Trading of Bausch + Lomb

Several hedge funds have recently modified their holdings of BLCO. State of Wyoming boosted its position in shares of Bausch + Lomb by 6.9% in the third quarter. State of Wyoming now owns 13,772 shares of the company’s stock worth $234,000 after buying an additional 887 shares during the period. Handelsbanken Fonder AB lifted its position in Bausch + Lomb by 5.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 22,000 shares of the company’s stock worth $364,000 after acquiring an additional 1,100 shares in the last quarter. Royal Bank of Canada boosted 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 acquiring an additional 1,468 shares during the period. Roxbury Financial LLC acquired a new stake in Bausch + Lomb in the third quarter valued at approximately $33,000. Finally, R Squared Ltd grew its position in Bausch + Lomb by 46.0% in the third quarter. R Squared Ltd now owns 17,452 shares of the company’s stock valued at $297,000 after acquiring an additional 5,502 shares in the last quarter. 11.07% of the stock is owned by institutional investors and hedge funds.

Bausch + Lomb Stock Performance

Shares of BLCO opened at $21.11 on Wednesday. The company’s 50 day simple moving average is $17.98 and its 200-day simple moving average is $16.86. The firm has a market cap of $7.56 billion, a PE ratio of -68.09, a price-to-earnings-growth ratio of 0.56 and a beta of 0.52. Bausch + Lomb has a 12-month low of $14.44 and a 12-month high of $21.40. The company has a current ratio of 1.56, a quick ratio of 1.04 and a debt-to-equity ratio of 0.78.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.13. Bausch + Lomb had a negative net margin of 2.05% and a positive return on equity of 5.01%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business posted $0.18 earnings per share. Bausch + Lomb’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities analysts predict that Bausch + Lomb will post 0.94 EPS for the current year.

Bausch + Lomb Company Profile

Bausch + Lomb Corporation is an eye-health company that develops, manufactures and markets products for consumers, eye-care professionals and surgical teams. Its business spans vision care, pharmaceuticals and surgical devices. Its products include contact lenses and lens-care solutions, as well as eye-health medicines and nutritional supplements. The company also supplies equipment, technologies and related products used in eye surgery and other ophthalmic procedures. Founded in Rochester, New York, in 1853 by John Jacob Bausch and Henry Lomb, the company serves customers in more than 100 countries.