Bausch + Lomb (NYSE:BLCO) Price Target Lowered to $18.00 at Royal Bank of Canada

Bausch + Lomb (NYSE:BLCO) had its price objective trimmed by Royal Bank of Canada from $22.00 to $18.00 in a report released on Thursday, MarketBeat reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a report on Thursday. Bank of America lowered their target price on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday. Morgan Stanley cut Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 target price for the company. in a report on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and set a $23.00 target price on shares of Bausch + Lomb in a report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.83.

Bausch + Lomb Price Performance

BLCO opened at $15.92 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.69. The company has a fifty day simple moving average of $17.42 and a 200 day simple moving average of $18.13. The stock has a market cap of $5.61 billion, a P/E ratio of -15.16, a P/E/G ratio of 2.18 and a beta of 0.46.

Bausch + Lomb (NYSE:BLCO) last released its earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Bausch + Lomb had a positive return on equity of 3.17% and a negative net margin of 7.86%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, research analysts expect that Bausch + Lomb will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Bausch + Lomb

Several hedge funds have recently bought and sold shares of BLCO. Blue Trust Inc. lifted its stake in Bausch + Lomb by 68.3% in the 4th quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock valued at $48,000 after purchasing an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Bausch + Lomb in the 4th quarter valued at about $72,000. Commonwealth Equity Services LLC acquired a new stake in Bausch + Lomb in the 4th quarter valued at about $181,000. Alpine Global Management LLC acquired a new stake in Bausch + Lomb in the 4th quarter valued at about $181,000. Finally, Covestor Ltd acquired a new stake in Bausch + Lomb in the 4th quarter valued at about $188,000. 11.07% of the stock is currently owned by institutional investors and hedge funds.

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.