Morgan Stanley Downgrades Bausch + Lomb (NYSE:BLCO) to Equal Weight

Bausch + Lomb (NYSE:BLCO) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They presently have a $19.00 price objective on the stock. Morgan Stanley’s price objective would indicate a potential downside of 3.26% from the company’s previous close.

A number of other research analysts also recently issued reports on BLCO. HC Wainwright boosted their price target on Bausch + Lomb from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Wells Fargo & Company lifted their price objective on shares of Bausch + Lomb from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup raised their target price on Bausch + Lomb from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada increased their price target on Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bausch + Lomb currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Bausch + Lomb Stock Up 0.9 %

Shares of NYSE:BLCO opened at $19.64 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average is $19.79 and its 200 day moving average is $17.24. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. On average, analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

A number of hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after buying an additional 3,232 shares during the period. Squarepoint Ops LLC acquired a new stake in Bausch + Lomb during the second quarter worth $173,000. Polar Asset Management Partners Inc. purchased a new stake in Bausch + Lomb in the third quarter valued at $289,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Bausch + Lomb during the 3rd quarter worth about $289,000. Finally, Verition Fund Management LLC acquired a new position in Bausch + Lomb in the third quarter valued at about $302,000. 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.