Morgan Stanley Issues Pessimistic Forecast for Bausch + Lomb (NYSE:BLCO) Stock Price

Bausch + Lomb (NYSE:BLCO) had its price target reduced by Morgan Stanley from $18.00 to $12.00 in a report issued on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, April 24th. Evercore ISI dropped their target price on shares of Bausch + Lomb from $19.00 to $15.50 and set an “outperform” rating for the company in a research report on Thursday, May 1st. HC Wainwright reduced their price target on shares of Bausch + Lomb from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company decreased their price objective on shares of Bausch + Lomb from $15.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Finally, Bank of America cut their target price on shares of Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.50.

Bausch + Lomb Price Performance

BLCO opened at $10.90 on Tuesday. Bausch + Lomb has a 1 year low of $10.45 and a 1 year high of $21.69. The company’s 50 day simple moving average is $13.72 and its 200 day simple moving average is $16.75. The stock has a market capitalization of $3.85 billion, a PE ratio of -11.98, a P/E/G ratio of 0.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.60.

Bausch + Lomb (NYSE:BLCO) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Bausch + Lomb had a negative net margin of 6.62% and a positive return on equity of 3.35%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS. As a group, sell-side analysts expect that Bausch + Lomb will post 0.74 EPS for the current year.

Hedge Funds Weigh In On Bausch + Lomb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Bausch + Lomb by 68.3% in the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after acquiring an additional 1,004 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Bausch + Lomb during the 4th quarter worth approximately $72,000. Commonwealth Equity Services LLC acquired a new position in shares of Bausch + Lomb in the 4th quarter valued at approximately $181,000. Alpine Global Management LLC purchased a new position in shares of Bausch + Lomb during the 4th quarter valued at approximately $181,000. Finally, Covestor Ltd acquired a new stake in shares of Bausch + Lomb during the fourth quarter worth approximately $188,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.