Bausch + Lomb (NYSE:BLCO) Price Target Lowered to $22.00 at Royal Bank of Canada

Bausch + Lomb (NYSE:BLCO) had its price objective trimmed by Royal Bank of Canada from $23.00 to $22.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently commented on BLCO. Bank of America reiterated an “underperform” rating and set a $18.00 target price on shares of Bausch + Lomb in a research note 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 price objective for the company. in a report on Monday, December 2nd. Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and upped their target price for the company from $19.00 to $25.00 in a research note on Tuesday, October 15th. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a research note on Thursday, October 31st. Finally, Wells Fargo & Company cut their price objective on Bausch + Lomb from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.25.

Bausch + Lomb Stock Performance

Bausch + Lomb stock opened at $17.90 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.57 and a quick ratio of 0.95. The firm’s fifty day moving average price is $18.38 and its 200 day moving average price is $18.13. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of -17.04, a price-to-earnings-growth ratio of 2.17 and a beta of 0.47. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69.

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

Institutional Trading of Bausch + Lomb

A number of large investors have recently modified their holdings of BLCO. King Street Capital Management L.P. bought a new position in Bausch + Lomb in the 3rd quarter worth about $14,122,000. Barclays PLC acquired a new position in shares of Bausch + Lomb during the third quarter worth approximately $5,797,000. Point72 DIFC Ltd bought a new position in Bausch + Lomb in the 3rd quarter worth approximately $4,331,000. Marshall Wace LLP acquired a new stake in Bausch + Lomb in the 2nd quarter valued at approximately $1,911,000. Finally, River Road Asset Management LLC raised its stake in Bausch + Lomb by 4.4% during the 3rd quarter. River Road Asset Management LLC now owns 2,020,414 shares of the company’s stock valued at $38,974,000 after acquiring an additional 85,987 shares in the last quarter. 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.