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

Shares of Bausch + Lomb Corporation (NYSE:BLCO) have been assigned a consensus rating of “Hold” from the fifteen brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $17.4167.

Several equities analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Bausch + Lomb in a report on Wednesday, January 21st. Evercore set a $18.00 price objective on shares of Bausch + Lomb and gave the stock an “in-line” rating in a report on Monday, January 5th. Citigroup upgraded shares of Bausch + Lomb from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Thursday, December 11th. Wells Fargo & Company boosted their price target on Bausch + Lomb from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $19.00 price objective on shares of Bausch + Lomb in a research note on Friday, January 9th.

Bausch + Lomb Stock Up 1.9%

BLCO stock opened at $17.04 on Monday. The company has a current ratio of 1.51, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $16.99 and its two-hundred day moving average is $15.72. The stock has a market cap of $6.04 billion, a P/E ratio of -19.59, a PEG ratio of 0.97 and a beta of 0.61. Bausch + Lomb has a twelve month low of $10.45 and a twelve month high of $17.86.

Hedge Funds Weigh In On Bausch + Lomb

Several institutional investors have recently added to or reduced their stakes in BLCO. Northwestern Mutual Wealth Management Co. increased its position in shares of Bausch + Lomb by 729.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,322 shares of the company’s stock worth $30,000 after acquiring an additional 2,042 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Bausch + Lomb by 104.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $38,000 after purchasing an additional 1,136 shares in the last quarter. Blue Trust Inc. raised its position in Bausch + Lomb by 58.5% in the second quarter. Blue Trust Inc. now owns 4,502 shares of the company’s stock valued at $59,000 after purchasing an additional 1,662 shares during the period. FNY Investment Advisers LLC lifted its stake in shares of Bausch + Lomb by 93.8% during the second quarter. FNY Investment Advisers LLC now owns 6,200 shares of the company’s stock worth $80,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Bausch + Lomb by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 5,903 shares of the company’s stock worth $101,000 after buying an additional 1,403 shares during the period. 11.07% of the stock is currently 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.