Bausch + Lomb Corporation (NYSE:BLCO) Given Consensus Rating of “Hold” by Analysts

Bausch + Lomb Corporation (NYSE:BLCO) has received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $18.00.

A number of brokerages have recently weighed in on BLCO. Evercore set a $17.00 price target on Bausch + Lomb in a research note on Monday. Wall Street Zen upgraded shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Citigroup boosted their target price on shares of Bausch + Lomb from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Bausch + Lomb in a research note on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft set a $16.00 price target on shares of Bausch + Lomb in a report on Thursday, April 30th.

Bausch + Lomb Stock Down 2.4%

Bausch + Lomb stock opened at $16.69 on Thursday. Bausch + Lomb has a 1-year low of $13.09 and a 1-year high of $18.92. The business has a fifty day moving average price of $15.83 and a 200-day moving average price of $16.51. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.53 and a quick ratio of 0.99. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of -26.92, a PEG ratio of 0.53 and a beta of 0.56.

Bausch + Lomb (NYSE:BLCO) last announced its earnings results on Wednesday, April 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 4.21%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company posted ($0.07) EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that Bausch + Lomb will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLCO. Northwestern Mutual Wealth Management Co. grew its stake in Bausch + Lomb by 729.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock valued at $30,000 after purchasing an additional 2,042 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Bausch + Lomb by 104.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock worth $38,000 after purchasing an additional 1,136 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Bausch + Lomb by 67.1% in the first quarter. Royal Bank of Canada now owns 3,657 shares of the company’s stock worth $58,000 after purchasing an additional 1,468 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Bausch + Lomb by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock worth $101,000 after purchasing an additional 1,403 shares during the period. Finally, Focus Partners Wealth acquired a new stake in shares of Bausch + Lomb during the third quarter worth about $170,000. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.