Bausch + Lomb (NYSE:BLCO) Stock Rating Reaffirmed by Needham & Company LLC

Bausch + Lomb (NYSE:BLCO)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports.

Several other research analysts have also weighed in on BLCO. Wells Fargo & Company lifted their target price on Bausch + Lomb from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Barclays increased their price objective on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Royal Bank of Canada lowered their target price on Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Evercore cut their price target on Bausch + Lomb from $17.00 to $16.50 and set an “in-line” rating on the stock in a report on Thursday, February 22nd. Finally, Evercore ISI increased their price objective on Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.50.

Bausch + Lomb Trading Down 4.1 %

BLCO traded down $0.60 during mid-day trading on Wednesday, reaching $13.94. The stock had a trading volume of 1,048,144 shares, compared to its average volume of 472,898. The stock has a market capitalization of $4.90 billion, a P/E ratio of -18.84, a P/E/G ratio of 1.46 and a beta of 0.36. Bausch + Lomb has a 52 week low of $13.62 and a 52 week high of $21.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.74. The firm’s fifty day simple moving average is $15.97 and its two-hundred day simple moving average is $15.65.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.07. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. Bausch + Lomb’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. On average, equities analysts predict that Bausch + Lomb will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Black Swift Group LLC acquired a new stake in Bausch + Lomb during the 3rd quarter worth approximately $170,000. Jump Financial LLC bought a new position in Bausch + Lomb during the 3rd quarter worth $255,000. Renaissance Capital LLC raised its holdings in Bausch + Lomb by 27.3% in the 4th quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock valued at $382,000 after acquiring an additional 4,801 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Bausch + Lomb during the 3rd quarter valued at $466,000. Finally, Tectonic Advisors LLC increased its position in shares of Bausch + Lomb by 4.7% in the third quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock worth $717,000 after purchasing an additional 1,907 shares during the period. Institutional investors 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.