Key Points
- CFO Sam Eldessouky purchased 4,000 shares of Bausch + Lomb on March 6 at an average price of $17.13, spending $68,520 and increasing his holdings to 403,130 shares (about a 1.0% stake increase, valued near $6.91M).
- Bausch + Lomb missed EPS estimates (reported $0.32 vs. $0.35 expected) but grew revenue 9.8% to $1.41B; Wall Street’s consensus rating is a Hold with a $18.25 target, although some firms have raised targets to $21 and ratings remain mixed.
Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) CFO Sam Eldessouky bought 4,000 shares of Bausch + Lomb stock in a transaction dated Friday, March 6th. The shares were bought at an average cost of $17.13 per share, with a total value of $68,520.00. Following the completion of the acquisition, the chief financial officer owned 403,130 shares of the company's stock, valued at $6,905,616.90. The trade was a 1.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Bausch + Lomb Trading Down 0.6%
Shares of BLCO opened at $17.12 on Wednesday. The business's 50-day moving average price is $17.28 and its 200 day moving average price is $16.18. 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 capitalization of $6.06 billion, a P/E ratio of -16.78, a P/E/G ratio of 0.73 and a beta of 0.58. Bausch + Lomb Corporation has a 1-year low of $10.45 and a 1-year high of $18.92.
Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.03). Bausch + Lomb had a negative net margin of 7.06% and a positive return on equity of 2.77%. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.38 billion. During the same period in the prior year, the company posted $0.25 earnings per share. Bausch + Lomb's quarterly revenue was up 9.8% compared to the same quarter last year. Analysts expect that Bausch + Lomb Corporation will post 0.74 earnings per share for the current year.
Institutional Investors Weigh In On Bausch + Lomb
A number of institutional investors have recently modified their holdings of BLCO. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Bausch + Lomb by 729.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company's stock valued at $30,000 after acquiring an additional 2,042 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Bausch + Lomb by 104.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company's stock worth $38,000 after acquiring an additional 1,136 shares in the last quarter. Wells Fargo & Company MN boosted its position in Bausch + Lomb by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company's stock valued at $101,000 after purchasing an additional 1,403 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Bausch + Lomb by 55.3% during the third quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company's stock valued at $132,000 after purchasing an additional 3,246 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in Bausch + Lomb in the third quarter valued at about $170,000. Institutional investors and hedge funds own 11.07% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on BLCO. Royal Bank Of Canada raised their price objective on shares of Bausch + Lomb from $19.00 to $21.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 27th. Citigroup increased their target price on Bausch + Lomb from $20.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $18.00 target price on shares of Bausch + Lomb in a research report on Thursday, February 19th. Wall Street Zen lowered Bausch + Lomb from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Bausch + Lomb in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Bausch + Lomb presently has a consensus rating of "Hold" and a consensus price target of $18.25.
View Our Latest Stock Report on BLCO
About Bausch + Lomb
(
Get Free Report)
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.
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