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

Shares of Bausch + Lomb Corporation (NYSE:BLCO) have received a consensus rating of “Hold” from the fourteen research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $18.75.

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $16.00 price objective on Bausch + Lomb in a research report on Thursday, April 30th. Wall Street Zen raised shares of Bausch + Lomb from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Citigroup upped their target price on shares of Bausch + Lomb from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Evercore set a $17.00 price target on shares of Bausch + Lomb in a report on Monday, July 6th. Finally, UBS Group began coverage on shares of Bausch + Lomb in a research report on Thursday, July 30th. They issued a “buy” rating and a $21.00 price target on the stock.

Bausch + Lomb Stock Performance

BLCO opened at $16.73 on Monday. The firm has a market capitalization of $5.98 billion, a P/E ratio of -34.86, a price-to-earnings-growth ratio of 0.54 and a beta of 0.55. The stock’s 50 day moving average price is $16.02 and its two-hundred day moving average price is $16.40. The company has a quick ratio of 1.02, a current ratio of 1.55 and a debt-to-equity ratio of 0.79. Bausch + Lomb has a 12-month low of $13.53 and a 12-month high of $18.92.

Institutional Investors Weigh In On Bausch + Lomb

Several hedge funds have recently made changes to their positions in the stock. Glenview Capital Management LLC grew its holdings in shares of Bausch + Lomb by 210.8% during the 2nd 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 position in shares of Bausch + Lomb in the third quarter valued at $14,776,000. Woodline Partners LP raised its stake in shares of 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 in the last quarter. Goldman Sachs Group Inc. lifted its position in Bausch + Lomb by 428.7% in the first quarter. Goldman Sachs Group Inc. now owns 299,671 shares of the company’s stock worth $4,345,000 after purchasing an additional 242,993 shares during the period. Finally, Whitebox Advisors LLC lifted its position in Bausch + Lomb by 15.8% in the first quarter. Whitebox Advisors LLC now owns 1,101,854 shares of the company’s stock worth $17,519,000 after purchasing an additional 150,641 shares during the period. 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.