Brokerages Set Bausch + Lomb Co. (NYSE:BLCO) Price Target at $21.00

Bausch + Lomb Co. (NYSE:BLCO) has received an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.58.

Several analysts have weighed in on the company. Bank of America reissued an “underperform” rating and issued a $18.00 target price on shares of Bausch + Lomb in a report on Thursday. Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and raised their target price for the company from $19.00 to $25.00 in a report on Tuesday, October 15th. Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and cut their target price for the stock from $24.00 to $22.00 in a research report on Wednesday, December 11th. Morgan Stanley lowered shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price target on the stock. in a research report on Monday, December 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st.

Institutional Trading of Bausch + Lomb

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Bausch + Lomb by 14,052.2% during the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after purchasing an additional 3,232 shares during the period. Squarepoint Ops LLC acquired a new position in Bausch + Lomb in the second quarter valued at $173,000. Polar Asset Management Partners Inc. purchased a new position in Bausch + Lomb during the third quarter worth about $289,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Bausch + Lomb in the 3rd quarter worth about $289,000. Finally, Verition Fund Management LLC purchased a new stake in Bausch + Lomb in the 3rd quarter valued at about $302,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

Bausch + Lomb Stock Performance

Shares of BLCO opened at $18.60 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.69. The company has a 50-day simple moving average of $19.87 and a 200-day simple moving average of $17.53. The company has a market capitalization of $6.55 billion, a PE ratio of -17.71, a P/E/G ratio of 1.74 and a beta of 0.43.

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

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.