Bausch + Lomb (NYSE:BLCO) Sees Large Volume Increase

Shares of Bausch + Lomb Co. (NYSE:BLCO) saw strong trading volume on Wednesday . 659,140 shares traded hands during trading, an increase of 44% from the previous session’s volume of 456,955 shares.The stock last traded at $15.78 and had previously closed at $17.03.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Evercore ISI raised their price objective on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Wednesday, May 1st. Morgan Stanley raised Bausch + Lomb from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $16.00 to $18.00 in a research report on Monday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Bausch + Lomb in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada dropped their price objective on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.95.

Bausch + Lomb Stock Performance

The business has a 50 day simple moving average of $15.27 and a 200 day simple moving average of $15.30. The company has a quick ratio of 1.03, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $5.69 billion, a PE ratio of -16.50, a PEG ratio of 1.79 and a beta of 0.47.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts predict that Bausch + Lomb Co. will post 0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Bausch + Lomb by 14,052.2% in the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after purchasing an additional 3,232 shares during the last quarter. Fore Capital LLC acquired a new stake in Bausch + Lomb in the first quarter valued at approximately $384,000. Renaissance Capital LLC grew its holdings in Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock valued at $399,000 after purchasing an additional 669 shares during the period. Quadrature Capital Ltd grew its holdings in Bausch + Lomb by 75.8% in the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock valued at $824,000 after purchasing an additional 20,803 shares during the period. Finally, Jump Financial LLC grew its holdings in Bausch + Lomb by 478.0% in the fourth quarter. Jump Financial LLC now owns 87,100 shares of the company’s stock valued at $1,486,000 after purchasing an additional 72,030 shares during the period. 11.07% of the stock is currently 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.