Bausch + Lomb (NYSE:BLCO) Price Target Lowered to $24.00 at Wells Fargo & Company

Bausch + Lomb (NYSE:BLCO) had its price target trimmed by Wells Fargo & Company from $26.00 to $24.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on BLCO. Citigroup cut Bausch + Lomb from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $24.00 to $22.00 in a report on Wednesday, December 11th. Morgan Stanley cut shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 price objective for the company. in a report on Monday, December 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of Bausch + Lomb from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their price objective on shares of Bausch + Lomb from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Bausch + Lomb presently has a consensus rating of “Hold” and an average price target of $20.42.

Bausch + Lomb Trading Up 0.9 %

BLCO opened at $17.42 on Thursday. The firm has a 50 day simple moving average of $18.88 and a 200 day simple moving average of $17.98. Bausch + Lomb has a fifty-two week low of $13.16 and a fifty-two week high of $21.69. The company has a market cap of $6.14 billion, a price-to-earnings ratio of -16.59, a price-to-earnings-growth ratio of 1.23 and a beta of 0.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $0.22 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Bausch + Lomb will post 0.6 earnings per share for the current year.

Institutional Trading of Bausch + Lomb

Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Bausch + Lomb during the fourth quarter worth about $72,000. Squarepoint Ops LLC acquired a new position in Bausch + Lomb during the 2nd quarter worth approximately $173,000. Polar Asset Management Partners Inc. acquired a new position in Bausch + Lomb during the 3rd quarter worth approximately $289,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Bausch + Lomb during the 3rd quarter worth approximately $289,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Bausch + Lomb in the third quarter valued at approximately $302,000. Institutional investors and hedge funds 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.