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

Bausch + Lomb Co. (NYSE:BLCO) has been given an average recommendation of “Hold” by the thirteen analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $20.58.

Several equities research analysts recently issued reports on the company. Morgan Stanley lowered 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. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Citigroup lowered Bausch + Lomb from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $24.00 to $22.00 in a research report on Wednesday. Finally, Bank of America restated an “underperform” rating and issued a $18.00 target price on shares of Bausch + Lomb in a research report on Thursday.

Bausch + Lomb Trading Down 0.1 %

NYSE BLCO opened at $18.60 on Wednesday. Bausch + Lomb has a one year low of $13.16 and a one year high of $21.69. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -17.71, a PEG ratio of 1.74 and a beta of 0.43. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57. The company’s 50 day moving average price is $19.87 and its 200 day moving average price is $17.50.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share 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 analysts’ expectations of $1.17 billion. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, sell-side analysts predict that Bausch + Lomb will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its position in Bausch + Lomb by 14,052.2% in the second quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock worth $47,000 after acquiring an additional 3,232 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Bausch + Lomb during the 2nd quarter valued at about $173,000. Polar Asset Management Partners Inc. acquired a new position in shares of Bausch + Lomb during the 3rd quarter valued at about $289,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Bausch + Lomb in the 3rd quarter valued at approximately $289,000. Finally, Verition Fund Management LLC acquired a new stake in Bausch + Lomb in the 3rd quarter worth approximately $302,000. Institutional investors and hedge funds 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.