Bausch + Lomb Corporation (NYSE:BLCO - Get Free Report) CAO Frederick Munsch sold 112,015 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $20.48, for a total value of $2,294,067.20. Following the completion of the sale, the chief accounting officer directly owned 45,831 shares of the company's stock, valued at approximately $938,618.88. This represents a 70.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Frederick Munsch also recently made the following trade(s):
- On Monday, August 10th, Frederick Munsch sold 52,900 shares of Bausch + Lomb stock. The shares were sold at an average price of $16.78, for a total value of $887,662.00.
Bausch + Lomb Trading Up 0.4%
NYSE:BLCO opened at $20.07 on Tuesday. The stock has a market cap of $7.17 billion, a PE ratio of -64.76, a price-to-earnings-growth ratio of 0.64 and a beta of 0.56. Bausch + Lomb Corporation has a fifty-two week low of $14.44 and a fifty-two week high of $21.36. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.55 and a quick ratio of 1.02. The stock's 50-day moving average is $17.41 and its two-hundred day moving average is $16.70.
Bausch + Lomb (NYSE:BLCO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.13. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Bausch + Lomb had a negative net margin of 2.05% and a positive return on equity of 5.02%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. As a group, equities research analysts forecast that Bausch + Lomb Corporation will post 0.94 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Bausch + Lomb
A number of hedge funds have recently added to or reduced their stakes in BLCO. State of Wyoming raised its position in Bausch + Lomb by 6.9% during the third quarter. State of Wyoming now owns 13,772 shares of the company's stock valued at $234,000 after acquiring an additional 887 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Bausch + Lomb by 5.3% in the second quarter. Handelsbanken Fonder AB now owns 22,000 shares of the company's stock valued at $364,000 after acquiring an additional 1,100 shares during the last quarter. Royal Bank of Canada grew its position in Bausch + Lomb by 67.1% in the first quarter. Royal Bank of Canada now owns 3,657 shares of the company's stock worth $58,000 after acquiring an additional 1,468 shares in the last quarter. Roxbury Financial LLC bought a new stake in Bausch + Lomb in the third quarter worth approximately $33,000. Finally, Squarepoint Ops LLC grew its position in Bausch + Lomb by 31.7% in the second quarter. Squarepoint Ops LLC now owns 24,379 shares of the company's stock worth $404,000 after acquiring an additional 5,861 shares in the last quarter. Institutional investors and hedge funds own 11.07% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Barclays upgraded shares of Bausch + Lomb to a "strong-buy" rating in a research report on Wednesday, October 7th. UBS Group assumed coverage on shares of Bausch + Lomb in a report on Thursday, July 30th. They set a "buy" rating and a $21.00 price target on the stock. Evercore set a $17.00 price target on shares of Bausch + Lomb in a research note on Monday, July 6th. Weiss Ratings upgraded Bausch + Lomb from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $20.00 price objective on shares of Bausch + Lomb in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Bausch + Lomb has an average rating of "Hold" and an average target price of $20.83.
Check Out Our Latest Stock Analysis on Bausch + Lomb
More Bausch + Lomb News
Here are the key news stories impacting Bausch + Lomb this week:
- Positive Sentiment: Strong-buy and momentum rankings: Zacks added BLCO to its Rank #1 (Strong Buy) lists for both momentum and overall stock selection. Zacks also identified the company as a potential long-term value stock, which may attract growth and value-oriented investors. Best Momentum Stock to Buy for November 2nd Why Bausch + Lomb Is a Top Value Stock
- Positive Sentiment: Higher consensus valuation: The consensus price target reportedly increased 10.44% to $21.92, suggesting analysts see additional upside from recent trading levels. Bausch + Lomb Consensus Price Target Raised
- Positive Sentiment: Operating momentum: Highlights from BLCO’s third-quarter earnings call emphasized strong growth. The company previously reported revenue growth of 7.3% year over year and earnings that exceeded analyst expectations, supporting the bullish case. Bausch + Lomb Earnings Call Highlights Strong Growth
- Neutral Sentiment: Mixed analyst signal: HC Wainwright raised its price target to $22 from $21 but downgraded BLCO from Buy to Neutral, indicating improved valuation expectations but less conviction that the stock will materially outperform. HC Wainwright Downgrades Bausch + Lomb
- Negative Sentiment: Insider selling: Chief Accounting Officer Frederick Munsch sold 112,015 shares worth approximately $2.29 million, reducing his holdings by about 71%. While insider sales can be routine, the transaction may concern investors because of its size.
Bausch + Lomb Company Profile
(
Get Free Report)
Bausch + Lomb Corporation (NYSE: BLCO) is a global eye-health company that develops, manufactures and markets products for vision care, ophthalmic pharmaceuticals and eye surgery. The company serves consumers, eye-care professionals, hospitals and surgical centers through a portfolio spanning contact lenses, contact-lens care products, prescription medicines, over-the-counter eye-care products and surgical equipment.
Its vision-care portfolio includes the Biotrue and INFUSE contact-lens brands, as well as solutions and other products used to clean and maintain contact lenses.
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