Bausch + Lomb (NYSE:BLCO) Rating Lowered to “Hold” at Evercore ISI

Bausch + Lomb (NYSE:BLCO) was downgraded by equities researchers at Evercore ISI from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on BLCO. The Goldman Sachs Group assumed coverage on shares of Bausch + Lomb in a report on Wednesday, October 1st. They issued a “neutral” rating and a $16.00 target price for the company. Raymond James Financial reissued an “outperform” rating and set a $19.00 price target (up previously from $18.00) on shares of Bausch + Lomb in a research report on Thursday, October 30th. Wells Fargo & Company upped their target price on shares of Bausch + Lomb from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. JPMorgan Chase & Co. lifted their target price on shares of Bausch + Lomb from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada boosted their price target on Bausch + Lomb from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.00.

Bausch + Lomb Stock Up 1.3%

Shares of NYSE BLCO opened at $16.80 on Monday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of -19.30, a price-to-earnings-growth ratio of 0.96 and a beta of 0.61. The company’s 50-day simple moving average is $16.25 and its 200-day simple moving average is $15.04. The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 0.76. Bausch + Lomb has a 52-week low of $10.45 and a 52-week high of $18.34.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Bausch + Lomb had a positive return on equity of 2.42% and a negative net margin of 6.13%.Bausch + Lomb’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. Equities analysts predict that Bausch + Lomb will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

A number of institutional investors have recently modified their holdings of BLCO. Oaktree Capital Management LP raised its position in shares of Bausch + Lomb by 28.7% in the third quarter. Oaktree Capital Management LP now owns 3,245,439 shares of the company’s stock valued at $48,909,000 after purchasing an additional 724,194 shares during the period. Goldentree Asset Management LP raised its stake in shares of Bausch + Lomb by 3.0% in the 3rd quarter. Goldentree Asset Management LP now owns 2,660,508 shares of the company’s stock valued at $40,002,000 after purchasing an additional 77,323 shares during the period. Glenview Capital Management LLC lifted its holdings in shares of Bausch + Lomb by 210.8% in the second quarter. Glenview Capital Management LLC now owns 1,553,855 shares of the company’s stock valued at $20,216,000 after purchasing an additional 1,053,855 shares in the last quarter. Compass Rose Asset Management LP boosted its position in shares of Bausch + Lomb by 22.0% during the third quarter. Compass Rose Asset Management LP now owns 1,000,000 shares of the company’s stock worth $15,070,000 after buying an additional 180,000 shares during the period. Finally, Davidson Kempner Capital Management LP bought a new position in shares of Bausch + Lomb during the third quarter worth about $14,776,000. Institutional investors and hedge funds 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.