Bausch + Lomb (NYSE:BLCO) Price Target Lowered to $15.00 at Stifel Nicolaus

Bausch + Lomb (NYSE:BLCO) had its target price decreased by equities research analysts at Stifel Nicolaus from $17.00 to $15.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 11.32% from the stock’s current price.

BLCO has been the subject of several other reports. Royal Bank of Canada set a $18.00 price objective on Bausch + Lomb in a research note on Thursday, March 27th. Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their price target for the company from $24.00 to $22.00 in a report on Wednesday, December 11th. Bank of America dropped their target price on Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, February 20th. Finally, HC Wainwright restated a “buy” rating and issued a $23.00 price objective on shares of Bausch + Lomb in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.91.

Bausch + Lomb Price Performance

Shares of NYSE:BLCO traded down $0.88 during trading hours on Thursday, hitting $13.48. 149,901 shares of the company’s stock traded hands, compared to its average volume of 608,374. The company’s fifty day simple moving average is $16.06 and its two-hundred day simple moving average is $18.06. The company has a market cap of $4.75 billion, a price-to-earnings ratio of -14.81, a price-to-earnings-growth ratio of 0.85 and a beta of 0.49. 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 has a 52 week low of $13.16 and a 52 week high of $21.69.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Bausch + Lomb had a positive return on equity of 3.35% and a negative net margin of 6.62%. The firm’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 earnings per share. As a group, equities analysts anticipate that Bausch + Lomb will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Bausch + Lomb

A number of hedge funds have recently modified their holdings of BLCO. Alberta Investment Management Corp grew its stake in Bausch + Lomb by 36.0% during the fourth quarter. Alberta Investment Management Corp now owns 3,008,193 shares of the company’s stock worth $54,328,000 after buying an additional 796,400 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Bausch + Lomb during the 4th quarter worth approximately $14,122,000. King Street Capital Management L.P. acquired a new stake in Bausch + Lomb during the 3rd quarter valued at $14,122,000. Arrowstreet Capital Limited Partnership raised its position in Bausch + Lomb by 51.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,218,431 shares of the company’s stock valued at $21,996,000 after purchasing an additional 414,138 shares during the last quarter. Finally, Barclays PLC acquired a new position in Bausch + Lomb in the third quarter worth $5,797,000. 11.07% of the stock is 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.