Bausch + Lomb’s (BLCO) Underperform Rating Reiterated at Bank of America

Bank of America reiterated their underperform rating on shares of Bausch + Lomb (NYSE:BLCO) in a report released on Thursday morning,Benzinga reports. They currently have a $18.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada lifted their price objective on Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Citigroup lowered Bausch + Lomb from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $24.00 to $22.00 in a research report on Wednesday. Morgan Stanley downgraded shares of 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. HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Bausch + Lomb in a report on Thursday. Finally, Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and upped their target price for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. One research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.58.

Bausch + Lomb Stock Down 0.1 %

Shares of NYSE BLCO opened at $18.60 on Thursday. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69. The firm’s 50-day simple moving average is $19.87 and its 200 day simple moving average is $17.52. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The company has a market cap of $6.55 billion, a price-to-earnings ratio of -17.71, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43.

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, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. Bausch + Lomb’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 EPS. On average, research analysts expect that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors have recently bought and sold shares of the business. River Road Asset Management LLC grew its stake in Bausch + Lomb by 4.4% in the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock valued at $38,974,000 after buying an additional 85,987 shares during the last quarter. Whitebox Advisors LLC increased its stake in shares of Bausch + Lomb by 28.2% during the second quarter. Whitebox Advisors LLC now owns 1,545,946 shares of the company’s stock worth $22,447,000 after purchasing an additional 339,643 shares during the period. King Street Capital Management L.P. acquired a new stake in Bausch + Lomb during the 3rd quarter worth approximately $14,122,000. Clearline Capital LP boosted its stake in Bausch + Lomb by 136.8% in the 2nd quarter. Clearline Capital LP now owns 712,055 shares of the company’s stock valued at $10,339,000 after purchasing an additional 411,404 shares during the period. Finally, Point72 Europe London LLP grew its holdings in Bausch + Lomb by 28.9% in the 2nd quarter. Point72 Europe London LLP now owns 653,492 shares of the company’s stock valued at $9,489,000 after buying an additional 146,583 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.