Bausch + Lomb (NYSE:BLCO) Sets New 1-Year High – Here’s What Happened

Shares of Bausch + Lomb Co. (NYSE:BLCO) hit a new 52-week high on Monday . The stock traded as high as $21.56 and last traded at $21.56, with a volume of 57384 shares changing hands. The stock had previously closed at $19.47.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BLCO. Evercore boosted their price objective on shares of Bausch + Lomb from $15.50 to $17.00 and gave the company an “in-line” rating in a research report on Thursday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Monday, September 16th. 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 on the stock. HC Wainwright lifted their price target on Bausch + Lomb from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of Bausch + Lomb in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.45.

Bausch + Lomb Stock Up 10.4 %

The company’s 50-day simple moving average is $17.19 and its two-hundred day simple moving average is $15.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.65 and a quick ratio of 1.01. The firm has a market capitalization of $7.57 billion, a P/E ratio of -14.98, a P/E/G ratio of 1.76 and a beta of 0.48.

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

Insider Buying and Selling

In related news, CEO Brent L. Saunders acquired 32,250 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $15.66 per share, with a total value of $505,035.00. Following the acquisition, the chief executive officer now directly owns 595,169 shares in the company, valued at $9,320,346.54. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bausch + Lomb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Europe London LLP grew its stake in shares of Bausch + Lomb by 28.9% in the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after buying an additional 146,583 shares in the last quarter. Clearline Capital LP increased its stake in Bausch + Lomb by 136.8% during the second 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 last quarter. Gabelli Funds LLC raised its position in Bausch + Lomb by 25.0% during the second quarter. Gabelli Funds LLC now owns 390,000 shares of the company’s stock valued at $5,663,000 after purchasing an additional 78,000 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Bausch + Lomb in the 2nd quarter valued at approximately $580,000. Finally, Quadrature Capital Ltd boosted its holdings in shares of Bausch + Lomb by 75.8% in the 4th quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock worth $824,000 after purchasing an additional 20,803 shares during the period. 11.07% of the stock is owned by institutional investors.

About Bausch + Lomb

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.