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

Bausch + Lomb (NYSE:BLCO) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $19.00 target price on the stock. Morgan Stanley’s target price points to a potential downside of 4.14% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. HC Wainwright raised their target price on shares of Bausch + Lomb from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Evercore ISI raised Bausch + Lomb from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $19.00 to $25.00 in a report on Tuesday, October 15th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Citigroup raised their price target on Bausch + Lomb from $20.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus upped their price objective on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.00.

Bausch + Lomb Stock Performance

Shares of BLCO stock opened at $19.82 on Monday. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $21.69. The stock’s 50-day moving average price is $19.79 and its 200 day moving average price is $17.19. 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 stock has a market capitalization of $6.98 billion, a PE ratio of -18.88, a price-to-earnings-growth ratio of 1.90 and a beta of 0.46.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, equities research analysts forecast that Bausch + Lomb will post 0.6 EPS for the current year.

Institutional Trading of Bausch + Lomb

A number of institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Bausch + Lomb by 14,052.2% in the second 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 in the last quarter. Squarepoint Ops LLC purchased a new position in Bausch + Lomb during the 2nd quarter valued at about $173,000. Polar Asset Management Partners Inc. acquired a new position in Bausch + Lomb during the third quarter worth about $289,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Bausch + Lomb in the third quarter valued at about $289,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Bausch + Lomb in the third quarter valued at about $302,000. 11.07% of the stock is currently 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.