Bausch + Lomb (NYSE:BLCO) Shares Gap Up to $18.56

Bausch + Lomb Co. (NYSE:BLCO)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $18.56, but opened at $19.30. Bausch + Lomb shares last traded at $20.06, with a volume of 296,280 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on BLCO shares. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Monday. Evercore upped their price target 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. Evercore ISI upped their price target on shares of Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. HC Wainwright cut 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 report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price 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. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.59.

Bausch + Lomb Stock Performance

The company’s 50 day moving average price is $16.30 and its 200 day moving average price is $15.65. The company has a market cap of $7.04 billion, a price-to-earnings ratio of -20.83, a price-to-earnings-growth 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 announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Bausch + Lomb had a negative net margin of 10.15% and a positive return on equity of 3.36%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $0.18 EPS. Bausch + Lomb’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts anticipate that Bausch + Lomb Co. will post 0.6 EPS for the current year.

Insider Activity at Bausch + Lomb

In other news, CEO Brent L. Saunders bought 32,250 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $505,035.00. Following the purchase, the chief executive officer now owns 595,169 shares of the company’s stock, 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BLCO. Clearline Capital LP grew its stake in Bausch + Lomb by 136.8% in the 2nd 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 during the last quarter. Freshford Capital Management LLC increased its holdings in shares of Bausch + Lomb by 29.8% during the 4th quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock worth $29,925,000 after purchasing an additional 403,062 shares during the period. Invenomic Capital Management LP bought a new position in shares of Bausch + Lomb during the 1st quarter worth about $6,817,000. Whitebox Advisors LLC increased its holdings in shares of Bausch + Lomb by 28.2% during the 2nd quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after purchasing an additional 339,643 shares during the period. Finally, Rokos Capital Management LLP bought a new position in shares of Bausch + Lomb during the 1st quarter worth about $5,602,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.