Wells Fargo & Company Cuts Bausch + Lomb (NYSE:BLCO) Price Target to $24.00

Bausch + Lomb (NYSE:BLCO) had its target price trimmed by Wells Fargo & Company from $26.00 to $24.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

BLCO has been the subject of several other research reports. Bank of America reaffirmed an “underperform” rating and set a $18.00 price target on shares of Bausch + Lomb in a research report on Thursday, December 12th. Stifel Nicolaus increased their target price on Bausch + Lomb from $16.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Citigroup downgraded 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 research report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a report on Thursday, October 31st. Finally, Evercore ISI upgraded shares of Bausch + Lomb from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $19.00 to $25.00 in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.42.

Bausch + Lomb Stock Performance

NYSE BLCO opened at $17.36 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 fifty-two week low of $13.16 and a fifty-two week high of $21.69. The business has a fifty day moving average of $18.77 and a 200-day moving average of $18.02. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of -16.54, a price-to-earnings-growth ratio of 1.23 and a beta of 0.47.

Bausch + Lomb (NYSE:BLCO) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business posted $0.22 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. As a group, analysts predict that Bausch + Lomb will post 0.6 earnings per share for the current fiscal year.

Institutional Trading of Bausch + Lomb

A number of hedge funds and other institutional investors have recently made changes to their positions in BLCO. FNY Investment Advisers LLC bought a new stake in Bausch + Lomb in the fourth quarter valued at about $72,000. Squarepoint Ops LLC acquired a new position in shares of Bausch + Lomb during the second quarter valued at $173,000. Polar Asset Management Partners Inc. acquired a new position in Bausch + Lomb during the 3rd quarter valued at about $289,000. Gordian Capital Singapore Pte Ltd bought a new stake in Bausch + Lomb during the third quarter worth approximately $289,000. Finally, Verition Fund Management LLC bought a new stake in shares of Bausch + Lomb in the 3rd quarter worth $302,000. Institutional investors 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.