Bausch + Lomb Corporation (NYSE:BLCO) Given Average Rating of “Hold” by Brokerages

Bausch + Lomb Corporation (NYSE:BLCO) has earned a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.4167.

A number of research analysts have recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and set a $19.00 price objective (up from $18.00) on shares of Bausch + Lomb in a research note on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on Bausch + Lomb from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bausch + Lomb in a research report on Wednesday, January 21st. Evercore set a $18.00 price objective on shares of Bausch + Lomb and gave the company an “in-line” rating in a research note on Monday, January 5th. Finally, Citigroup raised shares of Bausch + Lomb from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Thursday, December 11th.

Bausch + Lomb Stock Performance

NYSE:BLCO opened at $17.04 on Monday. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $6.04 billion, a P/E ratio of -19.58, a price-to-earnings-growth ratio of 0.99 and a beta of 0.61. The firm has a 50-day moving average price of $16.97 and a two-hundred day moving average price of $15.65. Bausch + Lomb has a twelve month low of $10.45 and a twelve month high of $17.86.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors have recently added to or reduced their stakes in BLCO. Northwestern Mutual Wealth Management Co. boosted its stake in Bausch + Lomb by 729.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock worth $30,000 after buying an additional 2,042 shares during the last quarter. Blue Trust Inc. raised its position in shares of Bausch + Lomb by 58.5% in the 2nd quarter. Blue Trust Inc. now owns 4,502 shares of the company’s stock worth $59,000 after buying an additional 1,662 shares during the period. FNY Investment Advisers LLC boosted its holdings in Bausch + Lomb by 93.8% in the second quarter. FNY Investment Advisers LLC now owns 6,200 shares of the company’s stock valued at $80,000 after acquiring an additional 3,000 shares during the last quarter. Gruss & Co. LLC purchased a new stake in Bausch + Lomb during the second quarter valued at about $130,000. Finally, Jones Financial Companies Lllp increased its stake in Bausch + Lomb by 55.3% during the third quarter. Jones Financial Companies Lllp now owns 9,112 shares of the company’s stock worth $132,000 after acquiring an additional 3,246 shares during the last quarter. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.