Bausch + Lomb (NYSE:BLCO) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Bausch + Lomb (NYSE:BLCO) in a research report released on Wednesday, Benzinga reports.

BLCO has been the subject of a number of other research reports. Evercore ISI boosted their price target on shares of Bausch + Lomb from $16.50 to $17.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Royal Bank of Canada reduced their target price on Bausch + Lomb from $20.00 to $18.00 and set an outperform rating on the stock in a research note on Monday, April 22nd. Barclays lifted their price target on Bausch + Lomb from $17.00 to $18.00 and gave the stock an equal weight rating in a research note on Monday, February 26th. Evercore decreased their price objective on Bausch + Lomb from $17.00 to $16.50 and set an in-line rating on the stock in a report on Thursday, February 22nd. Finally, Wells Fargo & Company boosted their target price on Bausch + Lomb from $21.00 to $23.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $19.27.

Bausch + Lomb Stock Performance

Bausch + Lomb stock opened at $13.60 on Wednesday. The firm’s 50 day simple moving average is $15.84 and its 200 day simple moving average is $15.63. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. Bausch + Lomb has a 1-year low of $13.16 and a 1-year high of $21.95. The firm has a market capitalization of $4.78 billion, a PE ratio of -14.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.47.

Bausch + Lomb (NYSE:BLCO) last announced its earnings results on Wednesday, May 1st. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.57% and a negative net margin of 7.81%. Bausch + Lomb’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. As a group, analysts expect that Bausch + Lomb will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Capital LLC raised its position in Bausch + Lomb by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after buying an additional 669 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in Bausch + Lomb by 4.7% in the third quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock worth $717,000 after purchasing an additional 1,907 shares during the last quarter. Gabelli Funds LLC grew its position in Bausch + Lomb by 2.3% in the 3rd quarter. Gabelli Funds LLC now owns 263,744 shares of the company’s stock worth $4,470,000 after purchasing an additional 6,017 shares during the period. Black Swift Group LLC purchased a new stake in Bausch + Lomb during the 3rd quarter valued at $170,000. Finally, Brandes Investment Partners LP lifted its holdings in shares of Bausch + Lomb by 11.0% during the 4th quarter. Brandes Investment Partners LP now owns 114,200 shares of the company’s stock valued at $1,948,000 after buying an additional 11,321 shares during the period. 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.