Bausch + Lomb (NYSE:BLCO) Reaches New 52-Week High – Should You Buy?

Bausch + Lomb Co. (NYSE:BLCO)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $21.56 and last traded at $21.56, with a volume of 57384 shares. The stock had previously closed at $19.47.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore boosted their price objective on shares of 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 reiterated an “outperform” rating and issued a $20.00 price target on shares of Bausch + Lomb in a research note on Thursday, August 1st. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $19.00 to $25.00 in a research note on Tuesday. HC Wainwright upped their target price 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, Deutsche Bank Aktiengesellschaft raised their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Bausch + Lomb currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Bausch + Lomb Trading Down 0.6 %

The stock has a market cap of $7.30 billion, a P/E ratio of -21.60, a price-to-earnings-growth ratio of 1.76 and a beta of 0.48. The firm’s 50 day simple moving average is $17.40 and its two-hundred day simple moving average is $16.04. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.70.

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 analysts’ consensus estimates of $0.13. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, equities research analysts predict that Bausch + Lomb Co. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Bausch + Lomb

In related news, CEO Brent L. Saunders acquired 32,250 shares of Bausch + Lomb stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $15.66 per share, for a total transaction of $505,035.00. Following the transaction, the chief executive officer now directly owns 595,169 shares of the company’s stock, valued at $9,320,346.54. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.

Institutional Trading of Bausch + Lomb

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in Bausch + Lomb by 14,052.2% during the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after acquiring an additional 3,232 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Bausch + Lomb during the second quarter valued at $173,000. Fore Capital LLC bought a new stake in shares of Bausch + Lomb during the first quarter valued at about $384,000. Renaissance Capital LLC lifted its holdings in Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after purchasing an additional 669 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Bausch + Lomb in the 2nd quarter valued at about $580,000. 11.07% of the stock is currently 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.