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

Bausch + Lomb (NYSE:BLCO) had its target price decreased by Royal Bank of Canada from $22.00 to $18.00 in a research note published on Thursday morning, MarketBeat reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Bank of America cut their price objective on shares of Bausch + Lomb from $18.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday. Citigroup cut shares of Bausch + Lomb from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $24.00 to $22.00 in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bausch + Lomb in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $23.00 target price on shares of Bausch + Lomb in a report on Tuesday. Finally, Stifel Nicolaus lowered their target price on shares of Bausch + Lomb from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.83.

Bausch + Lomb Trading Down 2.4 %

Shares of BLCO stock opened at $15.92 on Thursday. The firm has a 50 day moving average price of $17.42 and a two-hundred day moving average price of $18.13. The company has a quick ratio of 0.95, a current ratio of 1.57 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $5.61 billion, a PE ratio of -15.16, a price-to-earnings-growth ratio of 2.18 and a beta of 0.46. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.69.

Bausch + Lomb (NYSE:BLCO) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.26 billion. Bausch + Lomb had a negative net margin of 7.86% and a positive return on equity of 3.17%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. As a group, analysts predict that Bausch + Lomb will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLCO. Blue Trust Inc. increased its stake in Bausch + Lomb by 68.3% in the fourth quarter. Blue Trust Inc. now owns 2,474 shares of the company’s stock valued at $48,000 after acquiring an additional 1,004 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Bausch + Lomb during the fourth quarter worth $72,000. Commonwealth Equity Services LLC bought a new stake in shares of Bausch + Lomb during the fourth quarter worth $181,000. Alpine Global Management LLC bought a new stake in shares of Bausch + Lomb during the fourth quarter worth $181,000. Finally, Covestor Ltd bought a new stake in shares of Bausch + Lomb during the fourth quarter worth $188,000. 11.07% of the stock is owned by 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.