Bausch + Lomb’s (BLCO) Underperform Rating Reiterated at Bank of America

Bank of America reissued their underperform rating on shares of Bausch + Lomb (NYSE:BLCO) in a research note issued to investors on Thursday morning,Benzinga reports. Bank of America currently has a $18.00 target price on the stock.

A number of other research analysts have also recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research report on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Evercore ISI raised shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. HC Wainwright restated a “buy” rating and issued a $23.00 target price on shares of Bausch + Lomb in a research report on Thursday. Finally, Morgan Stanley downgraded 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 report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.58.

Bausch + Lomb Stock Performance

Shares of Bausch + Lomb stock opened at $18.60 on Thursday. The company has a 50 day moving average of $19.87 and a 200-day moving average of $17.52. The company has a market cap of $6.55 billion, a PE ratio of -17.71, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. Bausch + Lomb has a 1-year low of $13.16 and a 1-year high of $21.69.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, equities research analysts forecast that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its position 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 worth $47,000 after acquiring an additional 3,232 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Bausch + Lomb during the second quarter worth approximately $173,000. Polar Asset Management Partners Inc. bought a new stake in Bausch + Lomb in the third quarter worth approximately $289,000. Gordian Capital Singapore Pte Ltd acquired a new position in Bausch + Lomb in the third quarter valued at approximately $289,000. Finally, Verition Fund Management LLC bought a new position in shares of Bausch + Lomb during the 3rd quarter worth approximately $302,000. 11.07% of the stock is currently owned by institutional investors.

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.