Bausch + Lomb (NYSE:BLCO) Price Target Cut to $18.00 by Analysts at Stifel Nicolaus

Bausch + Lomb (NYSE:BLCO) had its target price reduced by Stifel Nicolaus from $19.00 to $18.00 in a report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms have also recently weighed in on BLCO. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Royal Bank of Canada raised their price objective on Bausch + Lomb from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. HC Wainwright reissued a “buy” rating and set a $23.00 target price on shares of Bausch + Lomb in a research note on Thursday, December 12th. Bank of America restated an “underperform” rating and issued a $18.00 price target on shares of Bausch + Lomb in a research note on Thursday, December 12th. Finally, Wells Fargo & Company lowered their price objective on shares of Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Bausch + Lomb presently has a consensus rating of “Hold” and an average target price of $20.25.

Bausch + Lomb Stock Up 2.8 %

Shares of NYSE BLCO opened at $17.90 on Wednesday. Bausch + Lomb has a 52 week low of $13.16 and a 52 week high of $21.69. The stock’s fifty day moving average is $18.38 and its 200 day moving average is $18.13. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.57. The stock has a market capitalization of $6.31 billion, a P/E ratio of -17.04, a PEG ratio of 2.17 and a beta of 0.47.

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. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. Sell-side analysts forecast that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Bausch + Lomb by 68.3% during the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock worth $48,000 after buying an additional 1,004 shares during the period. FNY Investment Advisers LLC acquired a new stake in Bausch + Lomb during the 4th quarter worth about $72,000. Squarepoint Ops LLC bought a new position in shares of Bausch + Lomb in the 2nd quarter worth about $173,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Bausch + Lomb in the 3rd quarter worth about $289,000. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Bausch + Lomb in the 3rd quarter valued at about $289,000. Institutional investors own 11.07% of the company’s stock.

About Bausch + Lomb

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.