Bausch + Lomb (NYSE:BLCO) Downgraded to “Equal Weight” Rating by Morgan Stanley

Bausch + Lomb (NYSE:BLCO) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat.com reports. They presently have a $19.00 price target on the stock. Morgan Stanley’s price target indicates a potential downside of 4.14% from the company’s current price.

A number of other research firms also recently commented on BLCO. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Citigroup upped their price target on shares of Bausch + Lomb from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Stifel Nicolaus increased their target price on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Finally, HC Wainwright boosted their price target on Bausch + Lomb from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Bausch + Lomb Stock Performance

NYSE:BLCO opened at $19.82 on Monday. The firm has a market cap of $6.98 billion, a PE ratio of -18.88, a P/E/G ratio of 1.90 and a beta of 0.46. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. Bausch + Lomb has a 1-year low of $13.16 and a 1-year high of $21.69. The firm has a 50 day simple moving average of $19.79 and a 200-day simple moving average of $17.19.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The business’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. On average, equities analysts expect that Bausch + Lomb will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Bausch + Lomb

Large investors have recently modified their holdings of the stock. King Street Capital Management L.P. acquired a new position in shares of Bausch + Lomb during the third quarter worth $14,122,000. Clearline Capital LP increased its stake in Bausch + Lomb by 136.8% during the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock worth $10,339,000 after buying an additional 411,404 shares during the period. Whitebox Advisors LLC lifted its holdings in Bausch + Lomb by 28.2% in the 2nd quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after buying an additional 339,643 shares in the last quarter. Barclays PLC purchased a new position in Bausch + Lomb in the 3rd quarter valued at about $5,797,000. Finally, Point72 DIFC Ltd purchased a new position in Bausch + Lomb in the 3rd quarter valued at about $4,331,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

About Bausch + Lomb

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.