Bausch + Lomb Co. (NYSE:BLCO) Given Consensus Recommendation of “Hold” by Brokerages

Bausch + Lomb Co. (NYSE:BLCO) has received a consensus recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $20.00.

Several equities analysts have recently weighed in on the stock. Morgan Stanley cut shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective on the stock. in a research report on Monday, December 2nd. Royal Bank of Canada cut their price target on Bausch + Lomb from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, February 20th. HC Wainwright reiterated a “buy” rating and issued a $23.00 target price on shares of Bausch + Lomb in a report on Tuesday, February 18th. Finally, Citigroup lowered shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and decreased their price target for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th.

Bausch + Lomb Trading Down 4.4 %

NYSE BLCO opened at $14.98 on Friday. The stock has a market capitalization of $5.28 billion, a P/E ratio of -16.46, a P/E/G ratio of 0.85 and a beta of 0.49. The business has a 50 day simple moving average of $16.30 and a 200 day simple moving average of $18.09. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.60 and a quick ratio of 1.01. Bausch + Lomb has a one year low of $13.16 and a one year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. Research analysts expect that Bausch + Lomb will post 0.74 earnings per share for the current year.

Institutional Trading of Bausch + Lomb

Several institutional investors and hedge funds have recently made changes to their positions in the company. Polar Asset Management Partners Inc. grew its position in Bausch + Lomb by 120.4% in the 4th quarter. Polar Asset Management Partners Inc. now owns 33,062 shares of the company’s stock worth $597,000 after purchasing an additional 18,062 shares in the last quarter. Alpine Global Management LLC bought a new position in shares of Bausch + Lomb in the fourth quarter valued at approximately $181,000. Tang Capital Management LLC increased its position in shares of Bausch + Lomb by 28.6% during the fourth quarter. Tang Capital Management LLC now owns 450,000 shares of the company’s stock valued at $8,127,000 after acquiring an additional 100,000 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Bausch + Lomb by 34.5% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 52,460 shares of the company’s stock worth $947,000 after acquiring an additional 13,460 shares during the period. Finally, Millennium Management LLC purchased a new position in Bausch + Lomb in the fourth quarter worth $735,000. 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.