Bausch + Lomb (NYSE:BLCO) Sees Strong Trading Volume

Bausch + Lomb Co. (NYSE:BLCO) saw strong trading volume on Tuesday . 423,354 shares changed hands during trading, a decline of 21% from the previous session’s volume of 534,438 shares.The stock last traded at $17.95 and had previously closed at $17.80.

Analyst Upgrades and Downgrades

Several brokerages have commented on BLCO. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Bausch + Lomb in a research report on Thursday, August 1st. Evercore ISI lifted their target price on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Evercore upped their price target on Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Raymond James started coverage on Bausch + Lomb in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Bausch + Lomb from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.59.

Bausch + Lomb Trading Up 7.7 %

The business has a 50-day moving average of $16.30 and a 200-day moving average of $15.65. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of -20.82, a PEG ratio of 1.47 and a beta of 0.46. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.65.

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

Insiders Place Their Bets

In related news, CEO Brent L. Saunders purchased 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, with a total value of $505,035.00. Following the completion of the acquisition, 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 SEC, which is accessible through this link.

Hedge Funds Weigh In On Bausch + Lomb

Large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in shares of Bausch + Lomb in the second quarter valued at approximately $580,000. Point72 Asset Management L.P. increased its holdings in shares of Bausch + Lomb by 31.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 647,156 shares of the company’s stock valued at $9,397,000 after purchasing an additional 153,000 shares in the last quarter. Clearline Capital LP increased its holdings in Bausch + Lomb by 136.8% in the second quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after buying an additional 411,404 shares in the last quarter. Point72 Europe London LLP lifted 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 valued at $9,489,000 after acquiring an additional 146,583 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Bausch + Lomb during the 2nd quarter valued at approximately $173,000. 11.07% of the stock is 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.