Bausch + Lomb (NYSE:BLCO) Hits New 1-Year High at $18.67

Bausch + Lomb Co. (NYSE:BLCO)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $18.67 and last traded at $18.67, with a volume of 158519 shares changing hands. The stock had previously closed at $15.55.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Evercore ISI raised their price objective on shares of Bausch + Lomb from $15.00 to $15.50 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their target price on Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Raymond James assumed coverage on shares of Bausch + Lomb in a report on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price objective on the stock. Finally, HC Wainwright reduced their target price on shares of Bausch + Lomb from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.59.

Bausch + Lomb Stock Up 15.6 %

The business’s 50 day moving average is $16.09 and its 200 day moving average is $15.59. 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 stock has a market cap of $6.33 billion, a price-to-earnings ratio of -16.20, a price-to-earnings-growth ratio of 1.47 and a beta of 0.46.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 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%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. Equities analysts expect that Bausch + Lomb Co. will post 0.6 earnings per share for the current year.

Insider Activity

In related news, CEO Brent L. Saunders bought 32,250 shares of Bausch + Lomb 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 acquisition, the chief executive officer now owns 595,169 shares in the company, valued at $9,320,346.54. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in Bausch + Lomb by 14,052.2% in the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after purchasing an additional 3,232 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Bausch + Lomb in the 2nd quarter valued at $173,000. Fore Capital LLC bought a new stake in shares of Bausch + Lomb in the 1st quarter worth about $384,000. Renaissance Capital LLC lifted its holdings in Bausch + Lomb by 3.0% during the 1st quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after purchasing an additional 669 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Bausch + Lomb in the second quarter valued at approximately $580,000. Institutional investors own 11.07% of the company’s stock.

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.