Bausch + Lomb (NYSE:BLCO) Rating Reiterated by Needham & Company LLC

Bausch + Lomb (NYSE:BLCO)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a research note issued to investors on Monday, Benzinga reports.

BLCO has been the topic of several other reports. Deutsche Bank Aktiengesellschaft raised their price objective on Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Evercore raised their price objective on Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price objective on shares of Bausch + Lomb in a report on Thursday, August 1st. Evercore ISI lifted their price target on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Finally, Raymond James initiated coverage on Bausch + Lomb in a report on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.59.

Bausch + Lomb Price Performance

Shares of BLCO stock opened at $18.57 on Monday. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $18.58. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.65. The firm has a market capitalization of $6.53 billion, a P/E ratio of -19.34, a P/E/G ratio of 1.47 and a beta of 0.46. The stock has a 50 day moving average price of $16.21 and a 200 day moving average price of $15.62.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 3.36% and a negative net margin of 10.15%. Bausch + Lomb’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. As a group, sell-side analysts predict that Bausch + Lomb will post 0.6 earnings per share for the current year.

Insider Buying and Selling

In other Bausch + Lomb news, CEO Brent L. Saunders bought 32,250 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $505,035.00. Following the purchase, the chief executive officer now directly owns 595,169 shares in the company, valued at $9,320,346.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearline Capital LP lifted its position in Bausch + Lomb by 136.8% during the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after acquiring an additional 411,404 shares during the period. Freshford Capital Management LLC lifted its position in Bausch + Lomb by 29.8% during the 4th quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock worth $29,925,000 after acquiring an additional 403,062 shares during the period. Invenomic Capital Management LP acquired a new stake in Bausch + Lomb during the 1st quarter worth about $6,817,000. Whitebox Advisors LLC lifted its position in Bausch + Lomb by 28.2% during the 2nd quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after acquiring an additional 339,643 shares during the period. Finally, Rokos Capital Management LLP acquired a new stake in Bausch + Lomb during the 1st quarter worth about $5,602,000. 11.07% of the stock is currently owned by hedge funds and other 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.