Royal Bank of Canada Cuts Bausch + Lomb (NYSE:BLCO) Price Target to $18.00

Bausch + Lomb (NYSE:BLCO) had its target price lowered by stock analysts at Royal Bank of Canada from $20.00 to $18.00 in a report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 25.09% from the company’s current price.

BLCO has been the subject of several other research reports. Evercore ISI increased their target price on shares of Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Evercore decreased their target price on shares of Bausch + Lomb from $17.00 to $16.50 and set an “in-line” rating for the company in a research note on Thursday, February 22nd. Barclays increased their price target on shares of Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, Wells Fargo & Company increased their price target on shares of Bausch + Lomb from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.50.

Bausch + Lomb Stock Performance

NYSE BLCO traded down $0.25 during trading hours on Monday, hitting $14.39. The company had a trading volume of 106,792 shares, compared to its average volume of 474,445. Bausch + Lomb has a 1-year low of $13.62 and a 1-year high of $21.95. The company has a market cap of $5.06 billion, a PE ratio of -19.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.36. The business has a 50 day moving average of $15.90 and a 200-day moving average of $15.76. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.74.

Bausch + Lomb (NYSE:BLCO) last announced its earnings results on Wednesday, February 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.07. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, equities research analysts expect that Bausch + Lomb will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLCO. Coronation Fund Managers Ltd. increased its stake in shares of Bausch + Lomb by 8.3% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 387,576 shares of the company’s stock worth $6,569,000 after purchasing an additional 29,662 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Bausch + Lomb by 4.7% in the 3rd quarter. Tectonic Advisors LLC now owns 42,323 shares of the company’s stock valued at $717,000 after purchasing an additional 1,907 shares during the last quarter. TD Asset Management Inc acquired a new position in shares of Bausch + Lomb in the 3rd quarter valued at $2,752,000. Black Swift Group LLC acquired a new position in shares of Bausch + Lomb in the 3rd quarter valued at $170,000. Finally, Segantii Capital Management Ltd boosted its holdings in shares of Bausch + Lomb by 66.7% in the 3rd quarter. Segantii Capital Management Ltd now owns 500,000 shares of the company’s stock valued at $8,475,000 after purchasing an additional 200,000 shares during the last quarter. 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.