Bausch + Lomb (NYSE:BLCO) Downgraded to Equal Weight Rating by Morgan Stanley

Morgan Stanley cut shares of Bausch + Lomb (NYSE:BLCO) from an overweight rating to an equal weight rating in a research report released on Monday, MarketBeat Ratings reports. They currently have $19.00 price objective on the stock.

BLCO has been the topic of a number of other research reports. Stifel Nicolaus increased their price objective on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Royal Bank of Canada lifted their price target on Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on shares of Bausch + Lomb from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $19.00 to $25.00 in a research report on Tuesday, October 15th. Finally, HC Wainwright raised their price objective on shares of Bausch + Lomb from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Bausch + Lomb Price Performance

BLCO opened at $19.46 on Monday. The firm has a 50-day moving average price of $19.79 and a 200-day moving average price of $17.21. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.69. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of -18.50, a PEG ratio of 1.90 and a beta of 0.46.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Equities analysts expect that Bausch + Lomb will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Bausch + Lomb by 5.6% in the third quarter. State Street Corp now owns 28,450 shares of the company’s stock valued at $549,000 after acquiring an additional 1,510 shares during the period. HighTower Advisors LLC increased its holdings in Bausch + Lomb by 14.7% during the 3rd quarter. HighTower Advisors LLC now owns 24,661 shares of the company’s stock valued at $476,000 after purchasing an additional 3,164 shares during the period. Blue Trust Inc. raised its position in Bausch + Lomb by 14,052.2% during the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company’s stock valued at $47,000 after purchasing an additional 3,232 shares during the last quarter. Renaissance Capital LLC lifted its holdings in Bausch + Lomb by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 43,560 shares of the company’s stock worth $840,000 after buying an additional 7,274 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Bausch + Lomb in the 2nd quarter worth approximately $173,000. 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.