Morgan Stanley Upgrades Bausch + Lomb (NYSE:BLCO) to Overweight

Bausch + Lomb (NYSE:BLCO) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, Marketbeat reports. The firm currently has a $18.00 price objective on the stock, up from their prior price objective of $16.00. Morgan Stanley’s target price suggests a potential upside of 20.81% from the company’s previous close.

A number of other brokerages also recently issued reports on BLCO. Barclays boosted their price target on Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Royal Bank of Canada decreased their target price on shares of Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Evercore ISI raised their price target on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research report on Wednesday, May 1st. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Bausch + Lomb in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Bausch + Lomb presently has an average rating of “Moderate Buy” and a consensus price target of $19.45.

Bausch + Lomb Price Performance

Shares of BLCO opened at $14.90 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.03 and a current ratio of 1.70. The company has a 50 day moving average price of $15.71 and a 200-day moving average price of $15.57. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.95. The stock has a market capitalization of $5.24 billion, a PE ratio of -15.52, a PEG ratio of 1.35 and a beta of 0.47.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 EPS. Equities analysts predict that Bausch + Lomb will post 0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

Institutional investors and hedge funds have recently bought and sold shares of the business. Eminence Capital LP boosted its position in Bausch + Lomb by 11.7% during the 3rd quarter. Eminence Capital LP now owns 5,994,806 shares of the company’s stock worth $101,612,000 after acquiring an additional 626,431 shares during the period. Freshford Capital Management LLC lifted its holdings in Bausch + Lomb by 29.8% in the fourth quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock worth $29,925,000 after purchasing an additional 403,062 shares during the period. Alberta Investment Management Corp grew its position in Bausch + Lomb by 39.1% in the 3rd quarter. Alberta Investment Management Corp now owns 1,351,793 shares of the company’s stock valued at $22,913,000 after buying an additional 380,000 shares in the last quarter. River Road Asset Management LLC raised its position in shares of Bausch + Lomb by 21.6% during the 4th quarter. River Road Asset Management LLC now owns 1,938,207 shares of the company’s stock worth $33,066,000 after buying an additional 343,772 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. raised its position in shares of Bausch + Lomb by 11.5% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 3,220,062 shares of the company’s stock worth $54,580,000 after buying an additional 333,000 shares in the last quarter. 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.