Bausch + Lomb (NYSE:BLCO) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Bausch + Lomb (NYSE:BLCO) from an equal weight rating to an overweight rating in a report published on Monday, Marketbeat reports. Morgan Stanley currently has $18.00 price target on the stock, up from their previous price target of $16.00.

Several other analysts also recently issued reports on the company. Wells Fargo & Company increased their price target on Bausch + Lomb from $21.00 to $23.00 and gave the company an overweight rating in a report on Thursday, February 22nd. Evercore ISI raised their target price on Bausch + Lomb from $16.50 to $17.00 and gave the company an in-line rating in a report on Thursday, April 4th. Evercore decreased their price target on Bausch + Lomb from $17.00 to $15.00 and set an in-line rating for the company in a report on Thursday, May 2nd. Needham & Company LLC reiterated a hold rating on shares of Bausch + Lomb in a research note on Wednesday, May 1st. Finally, Barclays upped their target price on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an equal weight rating in a research note on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Bausch + Lomb presently has a consensus rating of Moderate Buy and an average target price of $19.45.

Bausch + Lomb Trading Up 3.2 %

Shares of BLCO opened at $15.28 on Monday. The stock’s fifty day simple moving average is $15.63 and its 200 day simple moving average is $15.55. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.95. The company has a current ratio of 1.70, a quick ratio of 1.03 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $5.37 billion, a P/E ratio of -15.43, a price-to-earnings-growth ratio of 1.35 and a beta of 0.47.

Bausch + Lomb (NYSE:BLCO) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. On average, equities research analysts forecast that Bausch + Lomb will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On Bausch + Lomb

Several hedge funds and other institutional investors have recently made changes to their positions in the business. TD Asset Management Inc acquired a new position in Bausch + Lomb during the 3rd quarter worth $2,752,000. Black Swift Group LLC acquired a new position in Bausch + Lomb during the 3rd quarter valued at about $170,000. Segantii Capital Management Ltd increased its stake in Bausch + Lomb by 66.7% during the 3rd quarter. Segantii Capital Management Ltd now owns 500,000 shares of the company’s stock valued at $8,475,000 after buying an additional 200,000 shares during the period. Jump Financial LLC bought a new stake in shares of Bausch + Lomb during the 3rd quarter worth about $255,000. Finally, Gabelli Funds LLC lifted its stake in shares of 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 acquiring an additional 6,017 shares during the period. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.