Bausch + Lomb’s (BLCO) “Equal Weight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reissued their equal weight rating on shares of Bausch + Lomb (NYSE:BLCO) in a research report report published on Friday morning, MarketBeat reports. The brokerage currently has a $15.00 target price on the stock, down from their previous target price of $24.00.

A number of other analysts have also recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Bank of America reduced their price target on shares of Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, February 20th. Stifel Nicolaus dropped their price objective on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Bausch + Lomb in a research report on Tuesday, February 18th. Finally, Citigroup cut Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $24.00 to $22.00 in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Bausch + Lomb has a consensus rating of “Hold” and a consensus target price of $19.18.

Bausch + Lomb Trading Down 5.5 %

Shares of NYSE BLCO opened at $14.18 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.60 and a debt-to-equity ratio of 0.72. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.69. The company’s fifty day moving average is $16.23 and its 200-day moving average is $18.11. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -15.58, a P/E/G ratio of 0.85 and a beta of 0.49.

Bausch + Lomb (NYSE:BLCO) last posted its earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts predict that Bausch + Lomb will post 0.74 EPS for the current year.

Institutional Trading of Bausch + Lomb

Several large investors have recently modified their holdings of BLCO. Blue Trust Inc. lifted its stake in Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after purchasing an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Bausch + Lomb during the 4th quarter worth $72,000. Commonwealth Equity Services LLC bought a new stake in shares of Bausch + Lomb during the 4th quarter worth $181,000. Alpine Global Management LLC acquired a new stake in Bausch + Lomb in the fourth quarter valued at about $181,000. Finally, Covestor Ltd bought a new position in Bausch + Lomb in the fourth quarter valued at about $188,000. 11.07% of the stock is 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.