Insider Buying: Bausch + Lomb (NYSE:BLCO) CEO Buys $251,958.00 in Stock

Bausch + Lomb Corporation (NYSE:BLCO) CEO Brent Saunders bought 14,700 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average price of $17.14 per share, with a total value of $251,958.00. Following the transaction, the chief executive officer directly owned 966,575 shares of the company’s stock, valued at $16,567,095.50. This represents a 1.54% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Bausch + Lomb Stock Down 5.2%

NYSE BLCO opened at $16.59 on Friday. Bausch + Lomb Corporation has a 12 month low of $10.45 and a 12 month high of $18.92. The company has a current ratio of 1.55, a quick ratio of 1.04 and a debt-to-equity ratio of 0.77. The stock has a market cap of $5.89 billion, a PE ratio of -16.26, a P/E/G ratio of 0.74 and a beta of 0.58. The stock’s 50 day moving average is $17.28 and its 200 day moving average is $16.20.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Bausch + Lomb had a negative net margin of 7.06% and a positive return on equity of 2.77%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. Research analysts predict that Bausch + Lomb Corporation will post 0.74 EPS for the current fiscal year.

Institutional Trading of Bausch + Lomb

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oaktree Capital Management LP purchased a new position in shares of Bausch + Lomb in the 2nd quarter valued at about $32,801,000. Handelsbanken Fonder AB purchased a new position in Bausch + Lomb in the 2nd quarter valued at $202,000. Kazazian Asset Management LLC purchased a new position in shares of Bausch + Lomb in the second quarter worth about $722,000. Goldentree Asset Management LP lifted its stake in Bausch + Lomb by 14.9% in the 2nd quarter. Goldentree Asset Management LP now owns 2,583,185 shares of the company’s stock worth $33,524,000 after purchasing an additional 334,916 shares in the last quarter. Finally, Fountainhead AM LLC purchased a new position in Bausch + Lomb during the second quarter worth approximately $193,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $18.00 price target on shares of Bausch + Lomb in a report on Thursday, February 19th. Wall Street Zen downgraded shares of Bausch + Lomb from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Stifel Nicolaus set a $16.00 target price on Bausch + Lomb in a report on Thursday, February 19th. Royal Bank Of Canada boosted their target price on Bausch + Lomb from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Finally, HC Wainwright increased their target price on Bausch + Lomb from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Bausch + Lomb presently has an average rating of “Hold” and a consensus price target of $18.25.

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.