Needham & Company LLC Reiterates Hold Rating for Bausch + Lomb (NYSE:BLCO)

Needham & Company LLC reiterated their hold rating on shares of Bausch + Lomb (NYSE:BLCO) in a report released on Thursday, Benzinga reports.

BLCO has been the subject of several other reports. Raymond James assumed coverage on Bausch + Lomb in a report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 target price for the company. Royal Bank of Canada upped their target price on Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Evercore ISI raised Bausch + Lomb from an “in-line” rating to an “outperform” rating and upped their target price for the company from $19.00 to $25.00 in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upped their target price on Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Bausch + Lomb currently has an average rating of “Moderate Buy” and a consensus target price of $20.91.

Bausch + Lomb Stock Up 1.1 %

Shares of Bausch + Lomb stock opened at $20.51 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.70. The firm has a market cap of $7.22 billion, a P/E ratio of -19.53, a P/E/G ratio of 1.90 and a beta of 0.48. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.69. The business has a 50-day moving average price of $18.61 and a 200 day moving average price of $16.47.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.16% and a negative net margin of 7.86%. Bausch + Lomb’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. On average, sell-side analysts forecast that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Bausch + Lomb

In other news, CEO Brent L. Saunders bought 32,250 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $15.66 per share, for a total transaction of $505,035.00. Following the completion of the transaction, the chief executive officer now directly owns 595,169 shares of the company’s stock, valued at approximately $9,320,346.54. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors have recently added to or reduced their stakes in BLCO. Clearline Capital LP lifted its position in Bausch + Lomb by 136.8% in the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after purchasing an additional 411,404 shares during the period. Invenomic Capital Management LP acquired a new stake in Bausch + Lomb in the first quarter worth approximately $6,817,000. Whitebox Advisors LLC lifted its position in Bausch + Lomb by 28.2% in the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after purchasing an additional 339,643 shares during the period. Rokos Capital Management LLP acquired a new stake in Bausch + Lomb in the first quarter worth approximately $5,602,000. Finally, Point72 Asset Management L.P. lifted its position in Bausch + Lomb by 31.0% in the second quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock worth $9,397,000 after purchasing an additional 153,000 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.