Bausch + Lomb (NYSE:BLCO) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Bausch + Lomb (NYSE:BLCO) in a report released on Wednesday, Benzinga reports.

Several other research firms also recently commented on BLCO. Barclays upped their target price on Bausch + Lomb from $17.00 to $18.00 and gave the company an equal weight rating in a report on Monday, February 26th. Wells Fargo & Company upped their target price on Bausch + Lomb from $21.00 to $23.00 and gave the company an overweight rating in a report on Thursday, February 22nd. Evercore dropped their target price on Bausch + Lomb from $17.00 to $16.50 and set an in-line rating for the company in a report on Thursday, February 22nd. Royal Bank of Canada dropped their target price on Bausch + Lomb from $20.00 to $18.00 and set an outperform rating for the company in a report on Monday, April 22nd. Finally, Evercore ISI increased their price target on Bausch + Lomb from $16.50 to $17.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bausch + Lomb has a consensus rating of Hold and an average target price of $19.50.

Bausch + Lomb Stock Down 5.5 %

NYSE BLCO opened at $13.74 on Wednesday. The business has a fifty day moving average price of $15.97 and a 200 day moving average price of $15.65. Bausch + Lomb has a one year low of $13.62 and a one year high of $21.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.74. The company has a market cap of $4.83 billion, a P/E ratio of -18.57, a P/E/G ratio of 1.46 and a beta of 0.36.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.17 by $0.07. Bausch + Lomb had a positive return on equity of 3.70% and a negative net margin of 6.27%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned $0.23 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. Research analysts anticipate that Bausch + Lomb will post 0.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

Hedge funds and other institutional investors have recently bought and sold shares of the company. Black Swift Group LLC purchased a new position in Bausch + Lomb during the 3rd quarter valued at about $170,000. Jump Financial LLC purchased a new position in Bausch + Lomb during the 3rd quarter valued at about $255,000. Renaissance Capital LLC boosted its holdings in Bausch + Lomb by 27.3% during the 4th quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock valued at $382,000 after acquiring an additional 4,801 shares during the period. Quadrature Capital Ltd purchased a new position in Bausch + Lomb during the 3rd quarter valued at about $466,000. Finally, Tectonic Advisors LLC boosted its holdings in Bausch + Lomb by 4.7% during the 3rd quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock valued at $717,000 after acquiring an additional 1,907 shares during the period. 11.07% of the stock is currently owned by hedge funds and other institutional investors.

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.