Bausch + Lomb Co. (NYSE:BLCO) Given Average Rating of “Moderate Buy” by Brokerages

Bausch + Lomb Co. (NYSE:BLCO) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $19.45.

BLCO has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Bausch + Lomb from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Royal Bank of Canada decreased their price target on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Evercore dropped their price objective 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. Morgan Stanley upgraded shares of Bausch + Lomb from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $16.00 to $18.00 in a report on Monday, May 6th. Finally, Evercore ISI boosted their price objective on Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th.

Bausch + Lomb Stock Up 2.1 %

Shares of NYSE:BLCO opened at $15.02 on Friday. The firm has a 50 day simple moving average of $15.29 and a 200-day simple moving average of $15.43. The company has a market capitalization of $5.28 billion, a PE ratio of -15.65, a P/E/G ratio of 1.49 and a beta of 0.47. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.95. The company has a current ratio of 1.70, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Bausch + Lomb had a negative net margin of 7.81% and a positive return on equity of 3.60%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities analysts predict that Bausch + Lomb will post 0.64 EPS for the current fiscal year.

Institutional Trading of Bausch + Lomb

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Segantii Capital Management Ltd boosted its holdings in shares of Bausch + Lomb by 66.7% in the third quarter. Segantii Capital Management Ltd now owns 500,000 shares of the company’s stock worth $8,475,000 after buying an additional 200,000 shares during the period. Jump Financial LLC bought a new stake in Bausch + Lomb during the third quarter worth approximately $255,000. Gabelli Funds LLC lifted its position in Bausch + Lomb by 2.3% during the 3rd quarter. Gabelli Funds LLC now owns 263,744 shares of the company’s stock worth $4,470,000 after acquiring an additional 6,017 shares during the last quarter. Ballast Asset Management LP bought a new stake in Bausch + Lomb during the 3rd quarter valued at approximately $2,244,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Bausch + Lomb in the third quarter valued at approximately $5,091,000. 11.07% of the stock is currently owned by 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.