Bausch + Lomb (NYSE:BLCO) Given “Hold” Rating at Needham & Company LLC

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

A number of other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Bausch + Lomb from $14.00 to $18.00 and gave the company a hold rating in a report on Thursday, August 1st. Royal Bank of Canada reissued an outperform rating and set a $20.00 price objective on shares of Bausch + Lomb in a research report on Thursday, August 1st. Evercore ISI increased their target price on shares of Bausch + Lomb from $15.00 to $15.50 and gave the stock an in-line rating in a research note on Tuesday, July 2nd. Raymond James initiated coverage on shares of Bausch + Lomb in a research note on Wednesday, July 10th. They issued an outperform rating and a $19.00 price target on the stock. Finally, Evercore increased their price objective on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an in-line rating in a research report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Bausch + Lomb currently has an average rating of Moderate Buy and a consensus target price of $18.59.

Bausch + Lomb Stock Up 14.5 %

Shares of BLCO opened at $17.80 on Monday. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $18.30. 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 stock has a fifty day simple moving average of $16.14 and a two-hundred day simple moving average of $15.60. The company has a market capitalization of $6.26 billion, a PE ratio of -18.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.46.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. Bausch + Lomb’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the business earned $0.18 earnings per share. As a group, equities analysts forecast that Bausch + Lomb will post 0.6 EPS for the current year.

Insider Transactions at Bausch + Lomb

In related news, CEO Brent L. Saunders bought 32,250 shares of the firm’s stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 595,169 shares in the company, valued at approximately $9,320,346.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Bausch + Lomb

Several hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Bausch + Lomb in the 2nd quarter valued at $580,000. Point72 Asset Management L.P. raised its stake 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 valued at $9,397,000 after buying an additional 153,000 shares in the last quarter. Clearline Capital LP lifted its holdings 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 buying an additional 411,404 shares during the last quarter. Point72 Europe London LLP boosted its position in shares of Bausch + Lomb by 28.9% during the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after acquiring an additional 146,583 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Bausch + Lomb during the 2nd quarter worth about $173,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.