Bausch + Lomb (NYSE:BLCO) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Bausch + Lomb (NYSE:BLCO) in a research report report published on Wednesday morning, Benzinga reports.

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

Bausch + Lomb Stock Performance

Bausch + Lomb stock opened at $13.74 on Wednesday. The firm has a market capitalization of $4.83 billion, a P/E ratio of -18.57, a PEG ratio of 1.46 and a beta of 0.36. The stock has a fifty day moving average price of $15.97 and a 200 day moving average price of $15.65. Bausch + Lomb has a 52 week low of $13.62 and a 52 week high of $21.95. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65.

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

Institutional Investors Weigh In On Bausch + Lomb

Several institutional investors and hedge funds have recently modified their holdings of BLCO. Black Swift Group LLC purchased a new stake in shares of Bausch + Lomb in the third quarter worth about $170,000. Jump Financial LLC purchased a new stake in shares of Bausch + Lomb in the third quarter worth about $255,000. Renaissance Capital LLC boosted its position in shares of Bausch + Lomb by 27.3% in the fourth quarter. Renaissance Capital LLC now owns 22,407 shares of the company’s stock worth $382,000 after buying an additional 4,801 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Bausch + Lomb in the third quarter worth about $466,000. Finally, Tectonic Advisors LLC boosted 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 buying an additional 1,907 shares during the period. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.