Bausch + Lomb (NYSE:BLCO) Downgraded by Citigroup to “Neutral”

Bausch + Lomb (NYSE:BLCO) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday,Finviz reports. They currently have a $22.00 target price on the stock, down from their previous target price of $24.00. Citigroup’s price objective would suggest a potential upside of 6.43% from the stock’s current price.

BLCO has been the topic of a number of other reports. Morgan Stanley downgraded Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 target price on the stock. in a research report on Monday, December 2nd. Stifel Nicolaus raised their target price on shares of Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Wells Fargo & Company upped their price target on shares of Bausch + Lomb from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Evercore ISI raised Bausch + Lomb from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $19.00 to $25.00 in a research report on Tuesday, October 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.82.

Bausch + Lomb Stock Up 3.1 %

BLCO stock opened at $20.67 on Wednesday. Bausch + Lomb has a 1-year low of $13.16 and a 1-year high of $21.69. The business has a fifty day moving average price of $19.90 and a 200-day moving average price of $17.46. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. The stock has a market capitalization of $7.28 billion, a P/E ratio of -19.69, a P/E/G ratio of 1.93 and a beta of 0.43.

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

Institutional Investors Weigh In On Bausch + Lomb

Several institutional investors have recently added to or reduced their stakes in BLCO. River Road Asset Management LLC increased its position in Bausch + Lomb by 4.4% in the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock valued at $38,974,000 after acquiring an additional 85,987 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Bausch + Lomb during the 3rd quarter worth approximately $526,000. Point72 Europe London LLP boosted its position in Bausch + Lomb by 28.9% during the second quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock worth $9,489,000 after purchasing an additional 146,583 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Bausch + Lomb in the 2nd quarter valued at about $580,000. Finally, Clearline Capital LP increased its stake in shares of 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 purchasing an additional 411,404 shares in the last quarter. Hedge funds and other institutional investors 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.