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

Bausch + Lomb Co. (NYSE:BLCO) shares saw unusually-strong trading volume on Wednesday . Approximately 659,140 shares traded hands during mid-day 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 analysts have commented on BLCO shares. Evercore decreased their target price on Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating for the company in a research note on Thursday, May 2nd. Raymond James initiated coverage on Bausch + Lomb in a report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 price target on the stock. Evercore ISI lifted their price target on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Bausch + Lomb in a report on Thursday, May 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.95.

Bausch + Lomb Stock Performance

The stock has a market cap of $5.69 billion, a P/E ratio of -16.50, a PEG ratio of 1.79 and a beta of 0.47. The company has a fifty day moving average of $15.27 and a 200 day moving average of $15.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.03.

Bausch + Lomb (NYSE:BLCO) last announced its earnings results on Wednesday, May 1st. The company reported $0.07 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 for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned $0.10 EPS. Bausch + Lomb’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts predict that Bausch + Lomb Co. will post 0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings 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 valued at $47,000 after buying an additional 3,232 shares in the last quarter. Fore Capital LLC bought a new position in shares of Bausch + Lomb in the first quarter valued at $384,000. Renaissance Capital LLC increased its holdings in shares of 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 buying an additional 669 shares in the last quarter. Quadrature Capital Ltd increased its holdings in shares of 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 buying an additional 20,803 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of 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 buying an additional 72,030 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.

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.