Bausch + Lomb Corporation (NYSE:BLCO) Receives Consensus Recommendation of “Hold” from Brokerages

Bausch + Lomb Corporation (NYSE:BLCO) has received a consensus rating of “Hold” from the fifteen brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.5833.

BLCO has been the topic of a number of analyst reports. Zacks Research upgraded Bausch + Lomb to a “hold” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada lifted their target price on Bausch + Lomb from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 14th. HC Wainwright increased their price target on shares of Bausch + Lomb from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of Bausch + Lomb from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Bausch + Lomb in a report on Wednesday, October 1st. They set a “neutral” rating and a $16.00 target price on the stock.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors and hedge funds have recently made changes to their positions in BLCO. Deutsche Bank AG bought a new stake in Bausch + Lomb during the first quarter valued at $50,750,000. Oaktree Capital Management LP bought a new position in Bausch + Lomb in the 2nd quarter worth about $32,801,000. Glenview Capital Management LLC raised its holdings in shares of Bausch + Lomb by 210.8% in the 2nd quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock valued at $20,216,000 after acquiring an additional 1,053,855 shares in the last quarter. Davidson Kempner Capital Management LP bought a new stake in shares of Bausch + Lomb during the 3rd quarter valued at about $14,776,000. Finally, Woodline Partners LP grew its holdings in shares of Bausch + Lomb by 175.3% during the third quarter. Woodline Partners LP now owns 861,053 shares of the company’s stock worth $12,976,000 after purchasing an additional 548,230 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Bausch + Lomb Stock Up 3.2%

BLCO opened at $17.10 on Wednesday. Bausch + Lomb has a 12 month low of $10.45 and a 12 month high of $20.71. The company has a market cap of $6.05 billion, a PE ratio of -19.65, a price-to-earnings-growth ratio of 1.43 and a beta of 0.62. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average of $15.32 and a 200 day moving average of $14.16.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Bausch + Lomb had a negative net margin of 6.13% and a positive return on equity of 2.42%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS. On average, sell-side analysts expect that Bausch + Lomb will post 0.74 EPS for the current year.

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.