Bausch + Lomb (NYSE:BLCO) Earns Equal Weight Rating from Wells Fargo & Company

Wells Fargo & Company reaffirmed their equal weight rating on shares of Bausch + Lomb (NYSE:BLCO) in a report released on Friday, MarketBeat.com reports. They currently have a $15.00 price objective on the stock, down from their previous price objective of $24.00.

A number of other analysts also recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, February 20th. Morgan Stanley downgraded Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a research report on Monday, December 2nd. Bank of America reduced their target price on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a report on Thursday, February 20th. Stifel Nicolaus lowered their price target on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Finally, Citigroup lowered shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.18.

Bausch + Lomb Stock Performance

Shares of BLCO stock opened at $14.18 on Friday. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of -15.58, a PEG ratio of 0.85 and a beta of 0.49. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The business’s 50-day moving average price is $16.23 and its 200-day moving average price is $18.11. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.69.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the company earned $0.24 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Bausch + Lomb will post 0.74 EPS for the current year.

Institutional Trading of Bausch + Lomb

Several hedge funds have recently bought and sold shares of the business. Barclays PLC acquired a new position in Bausch + Lomb during the third quarter worth $5,797,000. Quadrature Capital Ltd acquired a new stake in shares of Bausch + Lomb in the 3rd quarter worth about $526,000. Janus Henderson Group PLC bought a new position in Bausch + Lomb in the 3rd quarter valued at about $957,000. King Street Capital Management L.P. acquired a new position in Bausch + Lomb during the 3rd quarter valued at about $14,122,000. Finally, HighTower Advisors LLC increased its holdings in Bausch + Lomb by 14.7% during the 3rd quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock worth $476,000 after purchasing an additional 3,164 shares in the last quarter. Institutional investors and hedge funds 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.