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

Needham & Company LLC restated their hold rating on shares of Bausch + Lomb (NYSE:BLCO) in a research report sent to investors on Wednesday morning, Benzinga reports.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Bausch + Lomb from $20.00 to $18.00 and set an outperform rating on the stock in a research report on Monday, April 22nd. 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 dropped their target price on Bausch + Lomb from $17.00 to $16.50 and set an in-line rating for the company in a research report on Thursday, February 22nd. Evercore ISI lifted their price objective on shares of Bausch + Lomb from $16.50 to $17.00 and gave the company an in-line rating in a report on Thursday, April 4th. Finally, Barclays upped their target price on Bausch + Lomb from $17.00 to $18.00 and gave the stock an equal weight rating in a report on Monday, February 26th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Bausch + Lomb presently has an average rating of Hold and an average price target of $19.27.

Bausch + Lomb Trading Down 1.9 %

NYSE:BLCO opened at $13.60 on Wednesday. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.95. The company has a quick ratio of 1.09, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $15.76 and a two-hundred day simple moving average of $15.60.

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

Institutional Investors Weigh In On Bausch + Lomb

A number of large investors have recently bought and sold shares of BLCO. Renaissance Capital LLC increased its stake in shares of Bausch + Lomb by 3.0% in the first quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after acquiring an additional 669 shares during the period. Tectonic Advisors LLC grew its position in Bausch + Lomb by 4.7% during the 3rd 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 period. Gabelli Funds LLC raised its stake in shares of Bausch + Lomb by 2.3% during the 3rd quarter. Gabelli Funds LLC now owns 263,744 shares of the company’s stock valued at $4,470,000 after buying an additional 6,017 shares during the last quarter. Black Swift Group LLC acquired a new position in shares of Bausch + Lomb in the 3rd quarter valued at about $170,000. Finally, Brandes Investment Partners LP boosted its stake in shares of Bausch + Lomb by 11.0% in the fourth quarter. Brandes Investment Partners LP now owns 114,200 shares of the company’s stock worth $1,948,000 after buying an additional 11,321 shares during the last quarter. 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.