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

Bausch + Lomb (NYSE:BLCO) had its target price lowered by research analysts at Wells Fargo & Company from $26.00 to $24.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 39.13% from the stock’s previous close.

BLCO has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and issued a $23.00 target price on shares of Bausch + Lomb in a report on Thursday, December 12th. Bank of America reiterated an “underperform” rating and issued a $18.00 target price on shares of Bausch + Lomb in a report on Thursday, December 12th. Morgan Stanley lowered shares of Bausch + Lomb from an “overweight” rating to an “equal weight” rating and set a $19.00 target price on the stock. in a report on Monday, December 2nd. Citigroup lowered shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and decreased their target price for the company from $24.00 to $22.00 in a report on Wednesday, December 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.42.

Bausch + Lomb Price Performance

BLCO traded down $0.02 on Thursday, reaching $17.25. 14,836 shares of the company’s stock were exchanged, compared to its average volume of 368,473. The stock has a market cap of $6.08 billion, a PE ratio of -16.43, a P/E/G ratio of 1.23 and a beta of 0.47. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.69. The stock’s fifty day moving average price is $18.93 and its 200-day moving average price is $17.99. 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. Bausch + Lomb’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. Sell-side analysts expect that Bausch + Lomb will post 0.6 EPS for the current year.

Institutional Investors Weigh In On Bausch + Lomb

Several large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new stake in Bausch + Lomb during the 4th quarter worth approximately $72,000. King Street Capital Management L.P. purchased a new stake in Bausch + Lomb during the 3rd quarter worth approximately $14,122,000. Barclays PLC purchased a new stake in Bausch + Lomb during the 3rd quarter worth approximately $5,797,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Bausch + Lomb during the 3rd quarter worth approximately $289,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Bausch + Lomb during the 3rd quarter worth approximately $555,000. 11.07% of the stock is owned by hedge funds and other institutional investors.

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.