Bausch + Lomb (NYSE:BLCO) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Bausch + Lomb (NYSE:BLCO) in a research note issued to investors on Thursday morning, Benzinga reports.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reissued a buy rating and set a $20.00 price target on shares of Bausch + Lomb in a research report on Thursday, May 2nd. Royal Bank of Canada reduced their target price on Bausch + Lomb from $20.00 to $18.00 and set an outperform rating on the stock in a report on Monday, April 22nd. Evercore lowered their price target on Bausch + Lomb from $17.00 to $15.00 and set an in-line rating for the company in a report on Thursday, May 2nd. Raymond James assumed coverage on Bausch + Lomb in a research report on Wednesday, July 10th. They set an outperform rating and a $19.00 price target on the stock. Finally, Morgan Stanley upgraded Bausch + Lomb from an equal weight rating to an overweight rating and boosted their price objective for the company from $16.00 to $18.00 in a research report on Monday, May 6th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Bausch + Lomb currently has a consensus rating of Moderate Buy and an average price target of $18.59.

Bausch + Lomb Stock Down 2.0 %

NYSE:BLCO opened at $16.00 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $20.06. The stock’s fifty day simple moving average is $15.53 and its 200-day simple moving average is $15.36. The firm has a market capitalization of $5.63 billion, a P/E ratio of -17.01, a P/E/G ratio of 1.75 and a beta of 0.47.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.33% and a negative net margin of 10.15%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. Equities research analysts expect that Bausch + Lomb will post 0.63 earnings per share for the current year.

Institutional Trading of Bausch + Lomb

A number of institutional investors have recently made changes to their positions in BLCO. Blue Trust Inc. increased its stake in Bausch + Lomb by 14,052.2% in the 2nd 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 during the last quarter. Fore Capital LLC bought a new position in shares of Bausch + Lomb in the 1st quarter valued at about $384,000. Renaissance Capital LLC increased its position 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 acquiring an additional 669 shares during the last quarter. Quadrature Capital Ltd raised its holdings in Bausch + Lomb by 75.8% during the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock worth $824,000 after acquiring an additional 20,803 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of Bausch + Lomb by 478.0% during the 4th quarter. Jump Financial LLC now owns 87,100 shares of the company’s stock worth $1,486,000 after purchasing an additional 72,030 shares in the last quarter. 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.