Bausch + Lomb (NYSE:BLCO) Stock Rating Lowered by Morgan Stanley

Morgan Stanley cut shares of Bausch + Lomb (NYSE:BLCO - Free Report) from an overweight rating to an equal weight rating in a report released on Monday morning, Marketbeat.com reports. They currently have $19.00 target price on the stock.

A number of other research analysts have also weighed in on BLCO. HC Wainwright increased their price objective on Bausch + Lomb from $22.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a "hold" rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Royal Bank of Canada lifted their price objective on shares of Bausch + Lomb from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Evercore ISI upgraded shares of Bausch + Lomb from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $19.00 to $25.00 in a research note on Tuesday, October 15th. Finally, Citigroup boosted their target price on shares of Bausch + Lomb from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Bausch + Lomb currently has an average rating of "Moderate Buy" and an average price target of $21.00.

Bausch + Lomb Stock Down 1.8 %

Shares of BLCO stock traded down $0.35 during trading hours on Monday, reaching $19.47. 246,264 shares of the company's stock were exchanged, compared to its average volume of 553,350. The company has a current ratio of 1.57, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The company has a market cap of $6.86 billion, a price-to-earnings ratio of -18.50, a P/E/G ratio of 1.90 and a beta of 0.46. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.69. The stock's 50 day moving average is $19.79 and its 200-day moving average is $17.21.

Bausch + Lomb (NYSE:BLCO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The company's quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. Analysts predict that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bausch + Lomb

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Bausch + Lomb by 14,052.2% in the 2nd quarter. Blue Trust Inc. now owns 3,255 shares of the company's stock valued at $47,000 after buying an additional 3,232 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Bausch + Lomb during the second quarter valued at about $173,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Bausch + Lomb in the 3rd quarter valued at approximately $289,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Bausch + Lomb in the 3rd quarter worth approximately $289,000. Finally, Verition Fund Management LLC purchased a new position in shares of Bausch + Lomb during the 3rd quarter worth approximately $302,000. 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.