Bausch + Lomb (NYSE:BLCO) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Bausch + Lomb (NYSE:BLCO) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the stock. Citigroup lifted their price objective on shares of Bausch + Lomb from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank Of Canada lifted their price target on shares of Bausch + Lomb from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. HC Wainwright upped their price target on Bausch + Lomb from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bausch + Lomb in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their target price on Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.25.

Bausch + Lomb Stock Performance

Shares of NYSE BLCO opened at $17.94 on Friday. Bausch + Lomb has a 1 year low of $10.45 and a 1 year high of $18.12. The firm has a market cap of $6.36 billion, a P/E ratio of -17.59, a PEG ratio of 0.73 and a beta of 0.61. The stock has a fifty day moving average price of $17.08 and a two-hundred day moving average price of $15.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.04 and a current ratio of 1.55.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Bausch + Lomb had a negative net margin of 7.06% and a positive return on equity of 2.77%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned $0.25 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts forecast that Bausch + Lomb will post 0.74 EPS for the current fiscal year.

Institutional Trading of Bausch + Lomb

Several hedge funds and other institutional investors have recently modified their holdings of BLCO. Northwestern Mutual Wealth Management Co. raised its position in Bausch + Lomb by 729.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock valued at $30,000 after buying an additional 2,042 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in Bausch + Lomb by 104.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $38,000 after acquiring an additional 1,136 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Bausch + Lomb by 31.2% in the 4th quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock valued at $101,000 after purchasing an additional 1,403 shares during the period. Gruss & Co. LLC acquired a new position in shares of Bausch + Lomb in the 2nd quarter valued at about $130,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Bausch + Lomb by 55.3% in the third quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company’s stock worth $132,000 after purchasing an additional 3,246 shares in the last quarter. Institutional investors and hedge funds 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.