Bausch + Lomb Co. (NYSE:BLCO) Receives $20.58 Average Target Price from Brokerages

Bausch + Lomb Co. (NYSE:BLCO) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.58.

A number of analysts have issued reports on BLCO shares. Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and reduced their target price for the company from $24.00 to $22.00 in a research note on Wednesday, December 11th. Evercore ISI upgraded Bausch + Lomb from an “in-line” rating to an “outperform” rating and increased their price target for the company from $19.00 to $25.00 in a report on Tuesday, October 15th. Royal Bank of Canada boosted their target price on shares of Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Finally, Bank of America reaffirmed an “underperform” rating and issued a $18.00 price target on shares of Bausch + Lomb in a research report on Thursday, December 12th.

Hedge Funds Weigh In On Bausch + Lomb

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its stake in Bausch + Lomb by 5.6% in the third quarter. State Street Corp now owns 28,450 shares of the company’s stock valued at $549,000 after acquiring an additional 1,510 shares during the period. HighTower Advisors LLC grew its stake in shares of Bausch + Lomb by 14.7% in the 3rd quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock valued at $476,000 after purchasing an additional 3,164 shares during the period. Renaissance Capital LLC raised its holdings in shares of Bausch + Lomb by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 43,560 shares of the company’s stock worth $840,000 after buying an additional 7,274 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Bausch + Lomb during the 2nd quarter worth approximately $173,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bausch + Lomb by 80.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 29,755 shares of the company’s stock valued at $576,000 after buying an additional 13,302 shares in the last quarter. 11.07% of the stock is owned by institutional investors.

Bausch + Lomb Price Performance

NYSE BLCO opened at $17.91 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of -17.06, a price-to-earnings-growth ratio of 1.74 and a beta of 0.47. The company has a 50 day simple moving average of $19.17 and a 200-day simple moving average of $17.88. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.69.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $0.22 earnings per share. Bausch + Lomb’s quarterly revenue was up 18.8% compared to the same quarter last year. Equities research analysts predict that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

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.