Bausch + Lomb Corporation (NYSE:BLCO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Bausch + Lomb Corporation (NYSE:BLCO) have earned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $18.25.

BLCO has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $19.00 target price on shares of Bausch + Lomb in a research note on Friday, January 9th. Wall Street Zen downgraded Bausch + Lomb from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Barclays lifted their target price on Bausch + Lomb from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, February 19th. Evercore set a $18.00 target price on Bausch + Lomb and gave the company an “in-line” rating in a report on Monday, January 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bausch + Lomb in a research note on Wednesday, January 21st.

Bausch + Lomb Price Performance

Shares of NYSE BLCO opened at $17.56 on Friday. The stock has a market cap of $6.22 billion, a P/E ratio of -17.22, a P/E/G ratio of 0.76 and a beta of 0.58. Bausch + Lomb has a twelve month low of $10.45 and a twelve month high of $18.92. The stock has a 50 day moving average of $17.29 and a two-hundred day moving average of $16.11. The company has a current ratio of 1.55, a quick ratio of 1.04 and a debt-to-equity ratio of 0.77.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BLCO. Oaktree Capital Management LP purchased a new stake in shares of Bausch + Lomb during the 2nd quarter worth approximately $32,801,000. Glenview Capital Management LLC boosted its position in Bausch + Lomb by 210.8% during the second quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock worth $20,216,000 after purchasing an additional 1,053,855 shares in the last quarter. Davidson Kempner Capital Management LP acquired a new stake in Bausch + Lomb in the third quarter valued at $14,776,000. Woodline Partners LP grew its holdings in Bausch + Lomb by 175.3% in the third quarter. Woodline Partners LP now owns 861,053 shares of the company’s stock valued at $12,976,000 after purchasing an additional 548,230 shares during the last quarter. Finally, Goldentree Asset Management LP increased its position in shares of Bausch + Lomb by 14.9% in the second quarter. Goldentree Asset Management LP now owns 2,583,185 shares of the company’s stock valued at $33,524,000 after buying an additional 334,916 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

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.