Analysts Set Bausch + Lomb Co. (NYSE:BLCO) Target Price at $20.00

Shares of Bausch + Lomb Co. (NYSE:BLCO) have received a consensus rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.00.

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Morgan Stanley cut shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price target for the company. in a research note on Monday, December 2nd. Stifel Nicolaus cut their price target on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Finally, Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and cut their price target for the stock from $24.00 to $22.00 in a research note on Wednesday, December 11th.

Institutional Investors Weigh In On Bausch + Lomb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLCO. Charles Schwab Investment Management Inc. raised its holdings in Bausch + Lomb by 80.8% during 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 during the last quarter. Verition Fund Management LLC bought a new stake in Bausch + Lomb during the 3rd quarter valued at $302,000. Cinctive Capital Management LP bought a new stake in Bausch + Lomb during the 3rd quarter valued at $870,000. HighTower Advisors LLC raised its holdings in Bausch + Lomb by 14.7% during the 3rd quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock valued at $476,000 after buying an additional 3,164 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Bausch + Lomb during the 3rd quarter valued at $957,000. 11.07% of the stock is currently owned by institutional investors.

Bausch + Lomb Price Performance

Shares of NYSE:BLCO opened at $15.56 on Friday. The company has a 50 day moving average of $16.43 and a 200 day moving average of $18.12. The stock has a market cap of $5.49 billion, a P/E ratio of -17.10, a P/E/G ratio of 0.85 and a beta of 0.49. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.69. The company has a current ratio of 1.60, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. Bausch + Lomb’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Bausch + Lomb will post 0.74 EPS 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.