Bausch + Lomb (NYSE:BLCO) Given “Underperform” Rating at Bank of America

Bausch + Lomb (NYSE:BLCO)‘s stock had its “underperform” rating restated by stock analysts at Bank of America in a research note issued on Thursday,Benzinga reports. They currently have a $18.00 target price on the stock. Bank of America‘s price objective indicates a potential downside of 3.23% from the stock’s current price.

A number of other analysts have also issued reports on the company. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and increased their target price for the company from $19.00 to $25.00 in a report on Tuesday, October 15th. Wells Fargo & Company raised their price objective on Bausch + Lomb from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Citigroup downgraded Bausch + Lomb from a “buy” rating to a “neutral” rating and dropped their target price for the company from $24.00 to $22.00 in a report on Wednesday. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of Bausch + Lomb in a report on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.58.

Bausch + Lomb Stock Down 0.1 %

Shares of Bausch + Lomb stock opened at $18.60 on Thursday. 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 12-month low of $13.16 and a 12-month high of $21.69. The firm has a market capitalization of $6.55 billion, a PE ratio of -17.71, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43. The stock’s fifty day moving average is $19.87 and its 200-day moving average is $17.50.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 18.8% on a year-over-year basis. Equities analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current year.

Institutional Trading of Bausch + Lomb

Several large investors have recently made changes to their positions in BLCO. Blue Trust Inc. raised its position in shares of Bausch + Lomb by 14,052.2% in the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after purchasing an additional 3,232 shares during the period. Fore Capital LLC raised its holdings in Bausch + Lomb by 90.2% in the 2nd quarter. Fore Capital LLC now owns 42,180 shares of the company’s stock worth $612,000 after acquiring an additional 20,000 shares during the period. Dimensional Fund Advisors LP lifted its position in Bausch + Lomb by 53.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 67,690 shares of the company’s stock worth $984,000 after acquiring an additional 23,714 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Bausch + Lomb by 25.0% during the second quarter. Gabelli Funds LLC now owns 390,000 shares of the company’s stock valued at $5,663,000 after acquiring an additional 78,000 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Bausch + Lomb in the second quarter valued at about $1,911,000. 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.